Do you know how you plan to exit your business? You may have a dream of going public, selling to the highest bidder, or retiring and handing over your business legacy to your family. Big dreams aside, the truth is that many small business owners have no...
To grow a valuable business – one you can sell – you need to set up your company so that it is no longer reliant on you. This can be easier said than done, especially when, like a consultant or professional advisor, what you are...
One of the most intimidating aspects of selling your business can be facing the barrage of questions during the various management presentations you’ll be doing for potential acquirers. Be prepared to be grilled on all facets of your operations. Of course every meeting will be...
Austin Dale Group is now a member in the Alliance for Channel Success. Members of the Alliance have many years of experience in the IT industry, building and coaching companies to high levels of success in critical practice areas such as: Leadership & Management Selling & Sales...
If you operate an IT solution provider -- or any type of company -- consistent growth and profitability are usually byproducts of an intelligent business strategy and its successful execution. Your business strategy shows that you understand your markets and how to position your company...
If your goal is to optimize the value of your company and make it more attractive as an acquisition target then consider the internal systems that help you run the business. You should systemize as many of your processes as possible and invest in systems...
One of the most profitable things a company can do is increase its gross margins (sales minus the direct cost of sales divided by total sales). This can be done in one of two ways: increase selling price or decrease the cost of goods sold....
Last time I wrote about the importance of grooming your internal management team (and possibly your own replacement) as a universally accepted way to build your business and increase its value. Now let’s talk about some ways in which you can increase the “attractiveness” of...
In my previous blog I wrote about the need to reduce customer concentration in order to increase your value to prospective buyers. Now let’s talk about the importance of building your internal management team. In the early days of running your own business, it’s natural for...
In two recent blogs I wrote about increasing the value of a privately-held IT company by reducing some of the risk factors. In this post I’ll focus on the risk of having an excessive concentration in your customer base. Many small businesses can’t help but...