Take Five #081: Post-close seller relationships: what can go right, wrong, and sideways, and more
Codely v2.0 public release is here
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What has changed in our latest release?
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All new features available for all public channel users
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Coding collaboration with over 200 users at once
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Real-time code save every 0.1 seconds
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Take Five #081: Post-close seller relationships: what can go right, wrong, and sideways, and more
1. Expert analysis of an e-commerce business deal
SBA lending expert Heather Endresen and entrepreneur-investor Bill D'Alessandro break down a seasonal e-commerce business deal and discuss considerations like SBA financing challenges, valuation when including inventory, deal structure, and more.
2. Benefits of operating a home services company from a sales-centric perspective (long post, worth the read)
3. Business buzzwords that get lost in translation
These are not magic words that you can sprinkle over your company to get amazing results - despite what some consultants will try to tell sell you. These are words that if used improperly, can keep you from communicating what your people need to do to succeed.
The reason these three words are problematic is not because they sound too touchy-feely. It's that they are mental short cuts that not everyone uses in the same way. They mask the actual behaviors at the root of what we're talking about, and when that happens it makes for lazy and ineffective management.
Let's look at them one by one
Read the rest of CEO Boot Camp’s post here.
4. One way to assess and execute business changes as a new owner
5. Post-close seller relationships: what can go right, wrong, and sideways, plus other considerations
Successfully transitioning the seller from being the “Most Important Person” (MIP) to a “Previously Important Person” (PIP) can have far reaching consequences on the success of the business you acquire. Anticipating this transition during the search process and being proactive about it once you are the owner will be essential to retain the value that a PIP and their legacy can have on the enterprise you take over, while mitigating some common risks.
Searchers are in a unique situation to move cautiously during the transition process. You will not be buying into a turnaround situation or needing to take immediate actions; your most important and urgent task is to learn to operate the business. You will therefore have plenty of time to take advantage of the wealth of knowledge that the prior owner has about the industry, customers, vendors, employees and other nuances about the business.
Find Jim Stein Sharpe’s complete article here.
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