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Shaking It Up: Tips for Acquiring and Adapting an Existing Business

I’ve been exploring what it would be like to buy a company instead of starting from scratch. I was doing research so I could offer that as an opportunity to clients who that would be a fit for. That way, instead of starting from scratch you can start from the middle or the top. Check out Flippa.com for more and also this article for my Blog by Lucy. You don’t always have to start from scratch. Think of buying a ready made company like starting from the middle, or depending on how successful it already is, starting from the top. YOU HAVE OPTIONS. Explore them Click To Tweet

Whether you’re an angel investor, a venture capitalist, or just a savvy entrepreneur, buying an existing business can strengthen your existing portfolio and create new opportunities to profit. Taking on someone else’s venture, however, is by no means straightforward, and you’ll need to carry out plenty of research if you want to adapt it successfully to market – here are a few pointers before you commit.

Acquisition

Requirements

Before you begin your search for a high-potential business, it’s important to first review your own skill-set and capabilities – both as an owner and, if you own other companies, as a conglomerate. An understanding of the industry in question is a must – you should also ensure that you have enough time and capital available to allocate towards the development of a new business. Take the time to work with your CFO, accountants, or consultants and review the resources available to you – understanding this is crucial not just for the researching stage but also for the negotiation stage.

Identifying a High-Potential Business

When it comes to business investment, as a rule, there are far more duds than there are boons, and so, to isolate a strong prospect, you’ll need to develop strict criteria and stick to them. Your criteria can vary depending on budget, industry, personal requirements, and more but, as a rule, you want to take on a business with a willing market (meaning there is preconceived demand amongst customers), high profit margins, and a clear selling point that can be taken advantage of in future.

Due Diligence

A cautious approach can save you time and money in the long run, and nowhere is this more true than when you’re conducting background checks on business prospects. Take the time to review critical documentation, analyze any available data and identify key risks that might cost you in the long term. It might also be necessary to meet with key players within the business itself, members of the c-suite, for example. Finally, you should ensure that your lawyers have read through any financial, legal, and regulatory company documents to ensure that everything is above water and legally sound.

Negotiating

Once both parties have agreed on a valuation provided by an independent source, you can move into the negotiation stage. Ideally, this should be straightforward, with communications taking place amongst yourselves and the company’s top decision-makers. Remember that these individuals may have sunk years into growing this venture and so it’s important to convey a clear understanding, appreciation, and plan for its future.

Adaptation

Structure

As important as the business itself is your strategy upon completing the acquisition. You should aim to review every department and look at larger components like structure – you may decide, for example, that you want to change this entirely. A formation service can help navigate any legalities and there are many options available online for you to compare reviews and prices, such as Rocket Lawyer vs Zenbusiness.

Marketing

If you’re taking the company in a new direction, this should reflect in your brand design and marketing efforts. If you’re working with limited resources, consider saving on designer costs by using online banner makers to design a custom banner for your website or social channels. These can often be customized with text, colors, fonts, and animations.

Business Process Management (BPM)

A company running on outdated processes can be enhanced using BPM strategies. BPM can automate and optimize workflows by analyzing how people, systems, and data interact – by understanding how digital process automation and BPM work, you can use the information gathered through the BPM process to streamline your operation and improve efficiency.

Acquiring an existing business is an arduous process in itself and adapting it to market is even harder. However, with a few adjustments, such as a new business structure or cost-efficient marketing strategies, you can take a struggling venture and bring it up to profitability

 

Thanks to Lucy Reed for today’s article. I appreciate the insight.

Have a purposeful day.

Stop trying to Find Your Purpose. It’s already within you. Look inside.

Hey Purpose Angel. This morning, I want to share with you answers to the following:

Why am I doing this? Why is this important? I remember the day I decided I didn’t want to become an Attorney anymore.
I was in the first month as a Junior in college at Loyola University Chicago Why? 3 reasons

1. As much as I enjoy reading, I was stressed out about how much information I would have to retain as a Lawyer

2. I knew I wanted to help women and build wealth and I didn’t see how I would do that without having to work for the bad guys (They typically have more money than the good guys. Good guys have money too)

3. I am an Empath, so I literally feel other peoples vibes and so I’m hyper-mindful of the energies I allow in my space and the energy I bring to any space. I’m also super intuitive, so I get clear directions on what I need to do for results, safety and success. These are physical and spiritual God-given abilities. We all have them. I’ve simply had a mentor who’s helped me master them and I’m still learning.

I feeeeel the energy of our world. Even as I type this now to you I have tears in my eyes just feeling it. I also feel the love and they are both overwhelming. So when I say I’m RADICALLY CLEAR on what role I need to play to support you in stepping fully into your purpose, It’s because it’s important. I already know we will have a better world when YOU do your part and you get to skip the line cuz I’ve done all the mistakes and spent a lot of money to get you the current best possible blueprint for your own next level.

So in school, I selected a few marketing and pr courses to take. In one of my classes, we were given a mock Ad campaign to work on for Verizon and in a split moment I realized how may millions of people I could reach with one simple yet effective AD. LITERALLY MILLIONS IN ONE GO. I caught the PR BUG and I was sold. I focused on my specialty in Communications.
Everything I have learned and do since then has helped me to be a student and teacher communicator with visuals, words and quality. I get the privilege of doing this for my own personal brand and the over 100+ women I have had the honor of branding overtime.

What you need to know: Your purpose has been and will always be a part of you. It's not something you're out there looking for. It's within already. Click To TweetWhether you discover what that purpose is or not depends on your choice to explore, acknowledge and accept what that purpose is. A good coach can guide you through the discovery.

Why you should care: If you find that you’re not joyful, excited or energized most times about your life or work or situation, It may mean you’re not in alignment with your purpose. And the fact is, you don’t have to stay in this space. It can be more than you ever imagined. I testify to this and so do many of my client.

What you need to do: DM me if you’d like to explore what it looks like to kick off your purpose journey, stress-free, no overwhelm and joyfully. Wanna see Quantum Leap, ask @evatoby She became a bestselling author beating out Lala Anthony’s book even before her book was available, secured over 7 media features in one year national and international. Became a published columnist for rolling out magazine and using my process once raised $900 in 5 hours for a youth organization in Detroit, Michigan.

Get VIP access to the Next level version of you. We kick off our Purpose POWER LAUNCH May 2nd. #radicalclarity #livethroughpurpose #purposepower

Purpose to Profit Secrets in Action

FB Friend, I have new news. But first, story time lol
 
So on 7.7.7 I launched ICY PR into the world and I did it specifically because I wanted to support small business owners who could share their knowledge and products with the world. I think in international, global terms, so I always dream then do big for my clients and my work.
 
In these 14+ years a lot has happened and I can sincerely say I forget how much we’ve done until we look back to see what we have done.
 
In December I had a coach who I was new to make a back-handed social media comment that I know specifically was around what I shared in our session about the work I do for women. Her comment was about how one shouldn’t make commitments about helping people live through their purpose, you should focus on the fact that you get them clarity.”
 
I was offended and I didn’t know why at the time, then I chatted with a friend and she said “MAM, just because she can’t and doesn’t do that, she probably can’t see how it’s possible that you can.”
 
lol I was like “yeah, you’re right”. I have conservatively secured now, over 1500 media features in my career. supported 14 entrepreneurs in becoming Best Selling Authors, Gotten my clients exposed to over 100 million people literally, from Latin America to Africa to North America. I am 41 about to be 42. I have literally been doing this consciously since I was 18. And I have incredible results to prove it.
 
From working with some of Africa’s biggest stars like DavidO, Stephanie Linus and a few others I can’t share as per lifetime NDA lol to working with some incredible Grammy Award winning artist and Dance music brands from American Ballet Theatre to Alvin Ailey American Dance Theatre to Pianist Lang Lang and a lot more when I was Director of Marketing and PR at CAF. To small business owners in London, Nigeria, America, Canada, Caribbean, Latin America etc.
 
We’ve donee a lottttt. So I do know how to do this and still helping incredible Entrepreneurs get results. Heck!! last week got 6 professional women get featured in Today’s Purpose Woman Magazine sharing their purpose work and expertise.
 
There is a method to the Purpose. And since I am RADICALLY CLEAR on how I am supposed to guide my clients with all I have learnt and still learning, I am going all out and I say this with no humility: MY LIGHT WILL ATTRACT so that those I am meant to serve can spot me and I can serve my God calling.
 
It took me almost 20 years to realize how simple this Purpose this is supposed to be. YUP. I cracked the code on the simplicity. It’s supposed to be simple actually. The work you’re looking to do to feel validated is in the mastery and action of the DOING your part.
 
 
And so, my new news is this:
 
As we step into year 15, (we will be 15 on 7.7.22) we have officially evolved into a coaching and consulting international company. We are now officially and legally called
 
ICY COACHING AND CONSULTING INTERNATIONAL.
 
Our mission: to support women and a few men in stepping fully into their purpose, using their personal brand, without stress & confusion, information overload, or time wasting so they can have global impact & earn substantial income consistently.
 
If you’re nudged intuitively to learn more about the PURPOSE P.O.W.E.R BOOTCAMP, feel free to DM me.

Discovering your intrinsic value is simpler than you think

 

Discovering your intrinsic value is simpler than you think.

One day, I was laying down to take a nap on my sectional sofa, I woke up about 45 minutes later and I could NOT get up…I couldn’t move my legs. I was scared. My heart was racing, I could literally taste my anxiety. and I started crying… and at some point my brain signaled for me to get my phone.

luckily it was right next to me and I called one of my Pharmaceutical Dr. friends. And she heard the panic in my voice just from saying hello. I told her I couldn’t move my legs, I started crying again and she told me to calm down, “try wiggling your toes, she said, pinch your legs”.

I did all of that still stressed and anxious and then the feelings in my legs came back.

I got off the phone cried some more, then went back to work.
You would think I would have seen that as a warning.

Months later, I ended up in the hospital from Adrenal Fatigue and my Best friend was with me and as I lay in the hospital bed at the time, I thought to myself, “if I died today, none of this shit would matter. And I thought “hmmmm, my family would cry, eat some rice, have a party and they would move on.

In that moment, after all the blood work, recommendations and everything else from the doctor, when I got home, I made a decision to change my life in 30 days. I stopped watching TV that month, I read a lot of books, I meditated more.
I was present in my life and I can tell you, the level of clarity that came to me once I decided to step FULLY into my purpose was divine.

The blessings and opportunities that came with that choice were astounding. The effectiveness that I was activating now that I had clarity.
Yes, I still had to do the work of mastery, heck, I’m still doing it, But this time, I had a blueprint of how to let my purpose lead my many passions.

Here is what I have learnt and I want to share with you:It doesn’t have to be hard. In fact, the knowing your purpose part is easier. We just expect it to be hard and we’re usually underwhelmed on how easy it seems. If you’re looking for work to do however, don’t worry, The work you feel you… Click To Tweet

It is fully your responsibility to MASTER your purpose.

What are you doing to master the thing you’ve been called for? Are you taking specialty classes, are you feeding your soul, Do you have mentors who can help guide your light, You tap into all of these things, so that your impact is bigger, your joy is bigger, your attraction factor is bigger, your profits are bigger.

You can get to do all the things you enjoy and still live through your purpose.

What you seek is already inside you. Release it and step fully into your purpose.

It’s time to LIVE THROUGH PURPOSE®

The Surprisingly Easy Way to Ruin Your Personal Brand.

If you’ve jumped on the personal branding bandwagon, and you think creating a personal brand that is all about you will make you the next Gary V., you are already down the wrong path. Cuz even Gary V. doesn’t talk about Gary V. Look, I understand. I completely get it. I’ve been there. I wasted time and money. The surprisingly easy way to ruin your personal brand is to think it’s all about you. **SPOILER ALERT*** It’s not.

Every brand coach is out here telling you to just launch your personal brand, create a website, launch a course, give your followers an opt in they can’t resist, so you can get their emails and sell to them

So tell me this: Does everyone you know who has a self- serving personal brand or website, and sales page attract paying clients?

EVERYONE?

But of course not.

But think about it for a second. What does every SUCCESSFUL ENTREPRENEUR with a personal brand have?

THEY BUILD BASED ON THEIR PURPOSE, HOW THEY CAN SERVE OTHERS: and here is the kicker: many of them still get to do many of the fun things they enjoy, heck some of them even buy other types of companies that do the other things they love. Talk about Multi-passionate Purposeful Entrepreneur. Yup they exist.

The truth is, they have a focused PURPOSE-CENTERED product or service that they offer to thousands and millions of people.

They have content that is engaging, powerful and customized to their personality yet incredibly valuable to those they SERVE. They all build wealth through this purpose. They all let the world know how they can help it, and then, they took what worked excellently and used it over and over and over again.

Can you think of any successful entrepreneur who has a personal brand who isn’t focused on something PURPOSEFUL?

Can you find me any successful entrepreneur who doesn’t have their message zoned in, with stellar content that converts and engages their ideal paying customer?

Can you find me any successful entrepreneur who hasn’t built wealth from their purpose? Heck If you’re a Mac user, you bought Steve Jobs Product. There is a 50% chance you’re using an iOs Device right now to watch, read or listen to this message. He made wealth from his purpose. Then he figured out what worked (slick design, quality product and a focus on his ideal clients CREATIVES. Yup that’s YOU.) He created this product for you. His message is clear. If you’re using a MAC, You’re a creative.

Here is how you can build your own successful purpose-centered personal brand that attracts paying clients.

Remember, if you don’t get crystal clarity on your purpose, you’re going to keep loosing time and money because you’re spread too thin on all your passions. Click To Tweet

First you have to get crystal clarity on what your purpose is. And it’s okay to be a multi-passionate entrepreneur, but a purpose breakthrough session helps you identity what to spend your most valuable time and resources on.

Second creating and developing your outstanding content that makes it easy for you to be loved, respected and paid by your ideal clients.

Third, you’ll need to identify how you want to build wealth through your purpose . Here you get to provide products or services that excite you and excite your ideal paying clients even more

Once you’ve gotten these top 3 core details together, then you’ll want to launch and launch big, with confidence, easily securing media features, blogs, podcasts and radio shows highlighting your story and how your product or service transforms lives.

And finally you take some time to review what worked with your process and perfect that and do just that perfected process all over again to get consistent results.

Remember, if you don’t get crystal clarity on your purpose, you’re going to keep loosing time and money because you’re spread too thin on all your passions. You’re going to keep pumping out content that doesn’t connect or engage with your ideal paying customers, you’re going to be selling the wrong product or service and wonder why you’re not making substantial income from it. You’re going to have a whole noise making launch of what you do that flops with only 0.5% of your ideal paying clients even aware you did a launch. You’re going to keep repeating strategies that don’t work and wonder why they are not working. Chances are you’ve probably experienced one or two of these things, if not all in the past 6-9 months.

So you can either be the entrepreneur who continues to think that having a self-serving personal brand or a personal website a cute opt-in and a sales page will help you attract your ideal paying customers who adore your purpose

OR

An Entrepreneur who lives purposefully, earns her profits confidently, is authentically herself and builds status as the top expert in her industry. Click To Tweet

You can be the entrepreneur who decides to step fully into her purpose, in spite of any fears, someone who wants to get crystal clear on what she has been called to do on this earth, attract and be attractive to the people she has been created specifically to help, people who will pay her anything she asks, without questions. An Entrepreneur who lives purposefully, earns her profits confidently, is authentically herself and builds status as the top expert in her industry.

And if that’s you. Then you know exactly what to do next.
Click the link below and sign up for my Purpose Breakthrough Session
I look forward to supporting you in Living through Purpose, Attracting paying clients and being celebrated as a profitable leader in your industry.

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