WHY WE DO IT
At some point in the natural life cycle of a closely-held company, self-made entrepreneurs find themselves contemplating what’s next. For many, there’s a two-way magnet in play. The business has been central to their lives, and it is human nature to be drawn to what’s known and proven. Yet the magnet also pulls toward possibilities: what if they wish to slow the pace?
When entrepreneurs are referred to us, many of the conversations they’ve had already have not addressed the design of the transition itself. The topic has been prematurely narrowed: keep versus sell. The business owner wants to do something, but no one has helped them navigate the tributaries and ramifications of their potential choices. Also, they dread the day they’ll receive a lofty list of recommendations, lacking the external leadership to implement.
In our Care to Know model, planning begins with helping you figure out where you are. For many, the greatest potential lies in transitioning from a Wisdom-driven Business which generates cash flow to fund livelihoods, to a Value-driven Business. Value-driven Businesses increase your options by systematizing the magic you’ve applied to creating success up to this point. They command stability for internal transitions, as well as the highest market value if owners decide to sell.
We begin with thorough diagnostics. First comes a true valuation process conducted by our credentialed valuation professionals. This offers a realistic picture of your company’s value from a buyer’s perspective. Second, we conduct assessments in two distinct areas: attractiveness and readiness. These diagnostics solidly benchmark your starting point.
Now, we’re poised to create your Value-driven Business. We move into strategic and tactical planning, conducting full-day clarity and consensus-building sessions with you and your key lieutenants.
One of the most common reasons business transitions derail is what we call Expectation Gaps. These are blind spots and pot holes that, once revealed, prevent a business owner from confidently executing their plan. When the full team has clarity and agreement around the Expectation Gaps, momentum drives us to the next phase. We identify and prioritize Enhancement Initiatives: facilitated 90-day sprints that directly increase the value of your business. Importantly, we implement together, working closely with you and your key people to achieve aspired results.
By driving for increase in value, we expand your choices. Those who decide to keep the business find that the Enhancements that increase value likewise improve workplace dynamics and drive cash flow. For those who choose to transition the business internally, the Enhancements stabilize the company to thrive financially during and after the transition.
Ultimately, Care to Know reminds you that you have a choice to gear up or back away. If the choice is to gear up for sale, our model helps you navigate choices around internal versus external, and in whole or in part. It helps ensure you sell at the prime time and for the highest value. Many of our clients remark that our model converted their murky fear of the unknown to a cathartic sense of clarity. They find that the relationship itself gives them a place to think.