To reach the peak of Mt. Everest mountain climbers need oxygen. For your business to reach its peak you need an oxygen influx, and one great way to get it is to (pretend to) “buy your own business.” Put your business through a mock acquisition process to uncover the opportunities and vulnerabilities a business buyer would uncover.
“Thank you,” gushed a previously frustrated sales manager. When I asked why, she replied that it was for helping Bob buy the company she worked for. “He’s a breath of fresh air,” she said. He listened to the employees, had plans to … Read the rest
Drastic change is coming. In mid-decade, 2000-2010, experts started predicting the largest transfer of wealth in history. In the later part of the decade, we started seeing predictions that 50 to 70 percent of small and medium-sized businesses would change hands in the next decade.
Fifty percent! This is a huge number. Why is this happening? It’s a demographic phenomenon. The largest generation in American history is getting older. The first of the baby boomers are now able to collect social security; 10,000 people a day become eligible for Medicare (this will continue for about 20 years); and this is … Read the rest