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Is your business ‘sale-ready’? | Issue #237

Six important qualitative factors that will influence the value of your business

Wondering how ‘sale-ready’ your business is? You may have a clear exit plan with PE or VC backing. Or your business might be privately owned, and you’re working on increasing its value. Either way, understanding the factors that influence sale-ready value is useful.

Exit planning has always fascinated me. My experience scaling Peer 1 taught me so much about the levers to pull to increase value. In 2013, we sold the business, realising the highest multiple for a hosting company ever achieved. 

Last week, I blogged about the measurable, quantitative factors at play in valuation. Here, I’m moving on to look at the broader qualitative factors that will influence the value of your business. It all boils down to the story you tell. And, like all good stories, you need to understand your audience. Once you know your potential buyer’s identity, you can tell them why your business is a good fit.

E242 | Dealing with Risk In A World of Uncertainty with Michele Wucker

Does everyone in your team look at risk in the same way? When we make decisions about whether to take a risk or not, we all have our biases. Our guest on The Melting Pot this week argues that diverse groups tend to make better decisions as they bring different perspectives. That’s why it’s beneficial to look at the risk profile of everyone in the room to ensure that your team looks at risks the right way and understands everyone’s perception of risk.

This week we learned from strategic advisor and best-selling author, Michele Wucker. Michele is famous for having coined the term ‘Gray Rhino’ – a metaphor that made headlines worldwide as a framework for the ignored warnings for the COVID-19 pandemic and has appeared in media in more than 70 countries and 35 languages and counting. 

In this episode, Michele talks about her latest book, You Are What You Risk: The New Art and Science of Navigating an Uncertain World, about the perception of risk and how people feel about it. How can you ensure that your team looks at risks the right way? Michele explains that it’s important to understand what those risks are, and what the different risk perceptions are within the team. That is what will help you to assess how to move your business forwards, so you don’t make the wrong decision. At the end of the episode, Michele shares her perspective on the recent collapse of several banks and how people chose to ignore the signs that led to it. 

A great conversation. Make sure to download and listen to learn more from Michele.

The Working Genius Podcast with Patrick Lencioni

Leadership and teamwork expert Patrick Lencioni and his team explore the Working Genius model and provide practical advice for applying this framework individually, at our jobs and in our homes. What type of work makes you thrive? Are you burning out because your job requires you to work in your areas of frustration? How can teams and families better tap into one another’s gifts? This podcast answers all these questions and more.

Why leadership training fails — and how to fix it

One size leadership training does not fit all. To be effective, it must be designed with the learners’ needs in mind, whether they’re high-performing individual contributors without supervisory experience, or C-suite executives. If participants don’t find the content relevant to their role and objectives, learner engagement will suffer.

Should You Let Employees Break the Rules to Make Customers Happy?

Some customer service experiences are simple and can be automated. But others, particularly those that involve challenging and complex customer needs, often require creative solutions by frontline employees. In these situations, should employees be empowered to break rules and protocols in order to come to a satisfactory conclusion? Research suggests that certain situations can benefit from this type of employee empowerment, improving not only a brand’s relationship to its customers but also improving frontline workers’ engagement as well.

The 4 elements of organizational culture transformation

Your organisation’s culture can’t be left up to chance. Leverage these four elements to create a solid structure for a positive workplace culture.

You Are What You Risk by Michele Wucker

The #1 international bestselling author of The Gray Rhino offers a bold new framework for understanding and re-shaping our relationship with risk and uncertainty to live more productive and successful lives. What drives a sixty-four-year-old woman to hurl herself over Niagara Falls in a barrel? Why do we often create bigger risks than the risks we try to avoid? Why are corporate boards newly worried about risky personal behavior by CEOs? Why are some nations quicker than others to recognize and manage risks like pandemics, technological change, and climate crisis? You Are What You Risk is a clarion call for an entirely new conversation about our relationship with risk and uncertainty. In this ground-breaking, accessible and eminently timely book, Michele Wucker examines why it’s so important to understand your risk fingerprint and how to make your risk relationship work better in business, life, and the world.

Quote of the week

“Plain old world-class execution is your best protection from competitors and is a profit generator. Very few businesses can really deliver.”

Greg Crabtree

Dominic Monkhouse

Dominic offers business coaching and management development, strategy planning and organisational change, using tried and tested methods to launch your organisation onto an unparalleled growth trajectory. His programme is a function of his broad experience, his deep expertise and a proven process used by over 2,700 firms worldwide.

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    Sign up today and get your copy of F**K PLAN B: How to scale your technology business faster and achieve Plan A, the book that will change your business and your life.

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