Archive for the ‘Financial Decisions’ Category
Choosing the Right Buyer
You’re being courted by a handful of companies that want to purchase your business. Wow! That’s an exciting scenario that many entrepreneurs strive for and consider essential validation that they’ve been successful.
But, the truth is that rather than being an easy destination in itself, this is a critical cross-roads that takes a great deal of determination, patience and focus. The countless number of issues that you need to address include:
- How do you choose between potential buyers?
- Is this the right time to sell?
- What’s your role going to be once the purchase is complete?
- What are your key measures of a success?
- When should you walk away from the deal?
- Who should you involve in the selling process?
- What are the likely surprises that you’ll face?
To get the answers to these questions in BusinessCast #142, we interview Chris Carder, President of Thindata 1:1 — one of North America’s leaders in multi-channel and database-driven marketing solutions.
In March of 2008, Transcontinental purchased the company that Chris and his partners built. So, in BusinessCast #142 Chris provides practical hands-on insights and candidly shares his pre-purchase concerns and post-purchase lessons. This is essential listening for any entrepreneur who ever thinks about selling their company.
*A reminder of upcoming (Toronto) events critical for all business leaders:
- The Art of Marketing (March, 2010)
- Emetrics Marketing Optimization Summit (April, 2010)
Managing the Numbers
“FINANCIAL NUMBERS“. Even the mention of the phrase can frustrate the most intrepid entrepreneur. The sheer abundance and sources of critical financially-relevant data in (and around a) business is often difficult to identify, never mind interpret. But, entrepreneurs need to acquire some dexterity in financial numbers to be successful. So where do you begin? After all, you’re running your business, looking for growth opportunities, putting out fires, establishing strategic partnerships and constantly updating your business strategies.
That’s where our special guest comes in for BusinessCast episode #139. Intuit’s senior marketer Barb Anderson provides insight on the first step of successfully working with financial data: managing the numbers. Barb taps into a wide community of growth-focused companies of all shapes, sizes, ages and industries. She shares very practical tips on how to get a handle on your financial data so that you can make better and faster decisions.
Complimenting Barb’s insights on how to manage the numbers, check out BusinessCast episode #98 — Financial Intelligence — where we interview the author of the book for quickly getting comfortable with interpreting financial data. Together, these two episodes give you insights and resources that will increase your financial skills and confidence.
Q&A — Part 2
Over the last few weeks Robert and I have been collecting and consolidating the hundreds of questions that get sent to us each week via email, phone, Twitter, LinkedIn, Facebook etc.
But, rather than answer all the questions ourselves, for BusinessCast episode #134, we brought in two of the leading trainers of Canada’s growth companies — Andrew Patricio and Roger Pierce — the founders of BizLaunch. Together, the four of us answer questions spanning Marketing, Sales, Human Resources, Finance, Operations and Technology.
Listen to BusinessCast episode #134 and chances are we’ll be answering questions that you frequently face. Also, listen to our recent episode Q&A — Part 1 where we posed a host of other commonly asked questions to our very special guest, Peter Thomas, the founder of Century 21 Realtors.
Be Prepared: Continuity Planning
When was the last time you and your team planned for an emergency? If you’re like most entrepreneurs, your answer is “We’re far too busy to plan…” or “We’ve already taken precautions to prevent emergencies…” or “We aren’t at risk…”.
Well, the truth of the matter is that all you have to do is open up a newspaper to find instances of business leaders just like you who have suffered great personal and professional losses from not having a current, relevant and flexible continuity plan (i.e. business disaster plan).
That’s why in BusinessCast episode #133 — Be Prepared: Continuity Planning — we reached out to get the most current insights about how and when leaders in growth companies should plan for emergencies. Our guest is American Express’ VP and General Manager, Howard Grosfield. Howard shares with us the results from American Express’ recent cross-Canada research of growing companies’ current state of continuity planning.
Listen to BusinessCast episode #133 and you’ll understand how your emergency planning stacks up against your competitors. At the same time, you will find practical tips for helping you determine how and when to cost-effectively develop a relevant continuity plan for your company.
Business Success: It’s About Time!
One of the many things that all successful entrepreneurs have in common is an insatiable need to bring their innovations (i.e products, services and/or processes) to the market. But, a key question that often gets trampled in the midst of entrepreneurs’ enthusiasm is “When is the right time?”
Because short- and long-term success depends so much on timing, for BusinessCast episode #128 Robert and I sat down with Steve Taylor, President of Resolver Inc. to gather his insights about evaluating the right time to launch/grow a successful business.
Listen to BusinessCast episode #128 to get a clear sense of some of the key timing considerations and how you can ensure your success by increasing your state of business readiness.