http://elderscrollsonlinereview.com/tag/imperial/ Read one of our success stories
Bob (changed to protect confidentiality), a hugely successful business owner, was frustrated. “For years I have been inundated by dozens of calls from would-be buyers, asking to buy my company. Finally, after one particularly bad day I had enough. I decided the time was right to sell my business.” He didn’t know what to do, but figured “how bad could it be?” He was a smart businessman, one who built his business by successful negotiations.
His trusted advisors, not equipped with the specialized skills to assist him in selling his business, left Bob to his own devices. Without a strategy or plan, he pressed on, making every mistake in the book. Seventy percent of his net worth was tied up in his business and he was in a hurry to make a deal—the faster the better.
The prospective buyer’s team began its due diligence review, and Bob agreed not to shop the business while they were reviewing the enterprise. Bob recounted, “I was shocked that the review took more than four months and that the offer was a tiny fraction of what I thought the company was worth! I was insulted. So, I lined up a competitor to buy my company. Now after six months of looking at my books and talking to my customers, they low-balled me, too. Almost a year has passed, I don’t have a deal and have no idea where to turn. Can you please help me?”
It was a bad time to learn that M&A is at an all-time high – a buyer’s market. Nearly 80% of deals never close. Expensive lesson.
Our rapid deployment team conduced a stress test to uncover deal weaknesses. Bob handicapped his leaders by having to personally approve each and every decision. He didn’t realize it, but he retired in his mind a year ago and failed to develop any new customers. Worse, his supervisors clashed with his production people causing bottlenecks and enraging current customers.
More Info Our strategy:
- Leadership development empowering a cohesive team
- Aggressive marketing encouraging customer development
- Training first line management to adopt a Servant Leadership mentality
- Conflict management getting production workers to see and agree to align their interest with management
Six month results: increased revenue and sold the company for $3.125 million more than originally expected.