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.
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.
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.
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.
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.
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.
Our one- year anniversary showed up quickly it’s 4.25.16. I must say in my new role as Wife, I have grown a WHOLLLE lot lol. I love being a couple to hang out with my soulmate and laugh, cry, share, pray together. The biggest lesson I have learned is that Love in it’s purest form transforms and heals. Laughter is such an important part of us too. We find laughter often I really like that. Growing can be hard. I have also learned because it requires you step into uncharted territory and that for anyone, is always scary, but the results are incredible. I like results, so I am all for growing and learning. My husband always talks about how his grand father said “there is nothing natural about marriage, that is why you need SUPER NATURAL power to guide you.”
Because of our union, I have a better relationship with God thanks to my hubbs. Here is to 50 and 60 and 70 more years.
A company in Colorado is looking for someone with a very strong marketing background, for a full time (full benefits), permanent placement, salaried career opportunity as a Marketing Manager working with a financial and payment services firm that caters to a primarily expatriate African population.
There are truly outstanding individuals in this area, if you know of anyone who might be qualified and may be interested in working within the marketing department of an international, high-performance company, located in more than 180 countries and territories and trusted by consumers across the globe.
They are looking for someone whom is FULLY bilingual in English and French -or any African language and has a comprehensive Marketing background. They seek someone who has a cultural understanding of the African consumer/market, someone who is a strong leader, has at least 4-6 years of relevant marketing experience and is open to about 25% travel (US and Canada).
The selected top-performer must also have outstanding communication skills, budget management experience, and has a strong quantitative profile as the position does require someone who is adept at interpreting statistical marketing information. A college degree is a requirement, a Masters/MBA is a plus.
The position is based out of Denver, Colorado and as such the company would offer relocation assistance. if you know of any marketing superstars that may be qualified and interested, please send an e-mail to firstname.lastname@example.org with your resume attached.
The opportunity is detailed below, if you fit and are interested contact the R70 team or if you know someone who will fit this forward it to them.
The production company R70 World Television is looking for first or second generation Nigerian-Americans to be the subject(s) of a new real life experiment/documentary to be broadcast on Nigerian and British television in October 2008.
‘American Spec’ follows (for 10 days) the lives of 7 individuals (or sets of brothers and/or sisters), born in America, of Nigerian parents (or of Nigerian heritage), who have been brought up the ‘typical’ Nigerian way despite never setting foot in their home country. We are looking for real Yankee by day (at work or school), Gidi by night (at home) types who probably can speak Yoruba, Igbo or Hausa as good as their cousins back home but never seen Murtala Mohammed Airport!
Filming of the series will commence in the United States in July, following each subject(s) throughout their days and nights and whoever they encounter and interact with along the way, getting to know as much about their everyday lives as well as delving into their backgrounds at intervals. The experiment will conclude with an all expense paid week long trip to Nigeria to experience home for the first time (and to see if they can hack it).
So, if you fit or know anyone who fits our Nigerian-American Specifications, and currently live in the United States, please email the producers at programmes@R70.com with the following details:
1. One page biography of the subject or subjects (please include phone number).
2. Attach a few jpeg pictures in different settings, work, home, baby pictures, family portrait, anything interesting.
3. List of any notable achievements, awards, claim to fame (or notoriety), or any interesting fact about yourself (the more drama the better).
4. Schedule or upcoming events from July 2008 to February 2009, travel plans (not to Nigeria), graduation, wedding (or divorce), births etc.
5. Proof of Nigerian parentage (family tree connections is sufficient, we don’t need or want your documents o!).
The producers are also open to suggestions for a presenter (or ‘interactor’) for this documentary. Must be a resident Nigerian who has traveled to the United States at least once and is exposed enough to interact with subjects on most issues. Nigerian ‘TeleVisionaries’ are also welcome as Line Producers.
Successful applicants will be notified by the end of May (filming starts in July). Subjects will be compensated. Terms and conditions (legal waivers) apply.
Concept created, developed and produced by Ayo Shonaiya for R70 World. (Copyright 2005-2008)
Page 1 of 11
PURPOSE CLARITY COACH
WELCOME TO MY BLOG
Hey you. Welcome to my Virtual home here on YetundeShorters.com where I get to support your awesomeness with tools, tips, resources to thrive out here in these world streets. Plus, I get to share with you my life as a Lifestyle Entrepreneur, TwinMom and Wife. A snap shot of the good and challenging. I am on a journey to realize my highest self while sharing the experiences, in hopes that someone else can learn from them, without having to go through it. I look forward to connecting live or online.