Tag archives for traditionally funded search - Page 3
Customer Concentration
How much customer concentration is too much? Less than you might think! For a searcher, the best-laid plans to acquire a business with low customer and market concentration, recurring revenues, healthy margins, and industry tail…
When your LOI falls apart
Having a transaction fall apart can be devastating in a number of ways to a searcher. Since it takes an average of LOI's, and many months, to get to closing (See blog post Getting to…
Why deals fall apart
Much of the company search process is about failure; deals will fall apart, and the more you understand why, the better prepared you will be to recognize the warning signs, anticipate them, and even avoid…
Reaching out for help
The quest to become an entrepreneur by purchasing a business is about learning and continuous improvement. No search is the same, nor is any searcher, therefore you have to seek out solutions to the challenges…
When to stop searching
No searcher wants to be a quitter, especially after "sacrificing" so much to head down the path to become a CEO. However, it is important to assess your progress, the impact you are having on…
Board of Directors
Recruiting and working with a Board of Directors once your search process is complete can be one of the more significant learning opportunities as a new business owner. CEO's find that a well-constructed and managed…
Selecting your direct reports
Recruiting and retaining team members for the company you purchase can raise it from "good" to “great”. Getting the right people into the right positions should not be delegated to the HR department. As the…
Hiring and Retention
One of the common myths in business is that the "Customer Comes First". While this may be what you tell your customers, in reality, without an effective team of employees, you will never be able…
IT Systems
When you take the CEO position of the business you purchase, you are likely to find inadequate and antiquated IT systems supporting the business. After all, you have purchased a "good" business and a "great"…
Knowing your competition
Once you have purchased a business, get a solid understanding of how your competition thinks and behaves. Doing so will be critical to developing your strategy and tactics for profitable growth. It is often too…