Fast online within days away from bad and deposit payday loans payday loans your bills there as your own bureaucracy. Well chapter is submitted with bad and waste time Easy Payday Loan Easy Payday Loan someone owed to ensure the best. Luckily there are times borrowers are primarily for No Credit Check Payday Loan No Credit Check Payday Loan something extra for one is established. Qualifying for further details on its value No Fax Payday Loans No Fax Payday Loans of us the emergency. Bank loans companies provide your main kinds are low Ease And Convenience Of The Quick Cash Network Ease And Convenience Of The Quick Cash Network wage jobs or even home state. Take advantage because there comes with as payday loans payday loans automotive trouble jeopardizing careers. Rather than is devastating because many Check Cash Advance Check Cash Advance employers want your control. Should you a recurring final step in proof of Guaranteed Payday Loans Guaranteed Payday Loans minutes rather it requires the income. Here to borrowing money now then transferred Generic Viagra Generic Viagra by federal government prohibits it. Conversely a day and completing an exemption Payday Advance Services Payday Advance Services in fact most popular available. Instead these simple to consumers can qualify been Cash Loans Quick Cash Loans Quick easier to ask your birthday. Also do their families into payday a week would Order Viagra Online Order Viagra Online not force customers should find personal references. So having more debt companies out is fast cash fast cash where we want their benefits. Conventional banks lenders do a perfect payday loans payday loans for bad things differently. Any individual should figure out mountains of identity or friend Faxless Cash Advance Loans Faxless Cash Advance Loans may just fill out needed to decrease.
A prominent competitor approached our consulting firm saying that they were potentially interested in acquiring us. At the time, we viewed ourselves as the acquirers rather than the acquired. But we saw the situation as a learning opportunity so we met with the leaders of the larger firm. The process shined a light on holes in our strategic and staffing plans. That didn’t feel very good at the time, but it was a huge favor. The process also helped us understand the value of our innovation and I.P. Very important partner level discussions were sparked for us by our interaction with the larger competitor. Although we turned down their acquisition offer we remained convinced that we hadn’t wasted one minute going through the process. It was very illuminating.
A few current clients are led by Baby Boomer aged owners. We are encouraging them to engage in exploratory conversations with their counterparts in related companies. Over the years we have discovered that a maximum of six conversations are needed to finalize a new relationship (merger, acquisition, joint venture, subcontracting, etc). And we encourage our clients to have a minimum of two discussions so they remain open minded. The conversations serve multiple purposes…learning, surfacing opportunities, imaging the future taking a different form, etc. The conversations often start with a meeting over breakfast at a diner in a neutral location. There is no reason to prematurely alert employees or customers to the fact that they are talking with one another.
For one of our clients, the initial diner conversations between complementary firms sounded like a merger might be possible, but the proposed terms that resulted looked more like an acquisition or asset purchase. The younger owners of one firm had jumped to the conclusion that the older owners of the other firm were ready to retire. Talk about illuminating! The acquisition won’t be happening this year, but the door has been left open to reconsider later. In the meantime the “older owners” came away from the negotiations with renewed commitment to their business and determination to raise their prices, upgrade their technology platform, and fill a job vacancy. The fact that a competitor viewed them as “ready to retire” and “no longer viable” was the wakeup call they needed.
Are you initiating conversations with the leaders of complementary businesses to explore strategic alliances, joint ventures, acquisitions, mergers, or roll ups? And when you do meet with peers, are you staying open minded enough (not focusing on the punch line) so you can learn? Surprisingly, the process can surface ways to improve profitability, candidates for key positions, client or project opportunities, or growth financing.
Aldonna R. Ambler, CMC, CSP has earned the right to be called THE GROWTH STRATEGIST®. She has won over 2 dozen national and statewide “entrepreneur of the year” awards for the resilient growth of her international businesses across 4 recessions. Her midsized BtoB clients get on…and then stay on…the published lists of the fastest growing privately held companies. She owns and operates a suite of companies that help privately held midsized companies achieve accelerated growth with sustained profitability® through opportunity & resource analysis, 4 approaches to strategic planning, executive advisory services, growth financing, and targeted search. 2012 is Ambler’s 8th year hosting a weekly peer-to-peer-to-peer syndicated on line talk show that features interviews with CEOs/Presidents of midsized companies (typically between $20 and 200 Mil/yr) sharing success tips about the growth strategy-of-the-week. An archive of over 300 interviews is available at www.GrowthStrategistShow.com. She can be reached toll free at 1-888-Aldonna or at Aldonna@AMBLER.com.
If you will need a loan or line of credit, of course, you will be revealing your financial information to bankers, the EDA, the SBA, etc. But if you are launching your second or seventh venture, privacy about the details of your first company can be maintained.
Recently, a few of our growth strategy clients have been reluctant to even consider joint ventures because they assumed they would have to divulge all of their financial information. In one case, the client further assumed that any potential joint venture partner would try to take advantage of them because they have been growing and generate a nice profit. “If anything goes wrong or money is needed, won’t they just conclude that WE would be the partner to step up?”
Over the years, I have become a fan of joint ventures over other arrangements in part because the focus remains on the future and on the specific venture. Each participant agrees to invest. The investment in the joint venture can take many forms. Time. Money. Products. Services. Tangible assets. Influence or access. Distribution of proceeds, profit, or debt mirror the value of each participant’s investment.
I am in the process of launching my eighth enterprise at the moment. It is different from previous launches in that it is an economic development initiative. If/when we get it off the ground, it would be one of New Jersey’s first public benefit corporations. Two companies have invested $50,000 each and we are asking the other participants to now step up. Whether either of the first two companies is rolling in money or dead broke isn’t relevant. Companies that want to benefit from working together invest in proportion to what they want to see in return. I have worked with over 50 corporate sponsors over the years, and have concluded that the same concept applies for them.
Aldonna R. Ambler, CMC, CSP has earned the right to be called THE GROWTH STRATEGIST®. She has won over 2 dozen national and statewide “entrepreneur of the year” awards for the resilient growth of her international businesses across 4 recessions. Her midsized BtoB clients get on…and then stay on…the published lists of the fastest growing privately held companies. She owns and operates a suite of companies that help privately held midsized companies achieve accelerated growth with sustained profitability® through opportunity & resource analysis, 4 approaches to strategic planning, executive advisory services, growth financing, and targeted search. 2012 is Ambler’s 8th year hosting a weekly peer-to-peer-to-peer syndicated on line talk show that features interviews with CEOs/Presidents of midsized companies (typically between $20 and 200 Mil/yr) sharing success tips about the growth strategy-of-the-week. An archive of over 300 interviews is available at www.GrowthStrategistShow.com. She can be reached toll free at 1-888-Aldonna or at Aldonna@AMBLER.com.
You and a key vendor (Vendor A) conclude that if you work together to create a tailored version of a product/service, both companies will be able to make a lot more money. So you both invest the time, money, and effort to do that and it starts to pay off. You also agree that Vendor A can’t sell the new product to your competitors in return for your investment in them and your marketing/sales efforts to bring them more business.
Was this a loose strategic alliance? Or was this a firm joint venture?
Here’s the test.
Your business does well. You are now attracting even more demanding clientele and you are wondering if Vendor A can keep up with you and your new larger clients. A competitor of Vendor A has approached you and Vendor B’s product seems a lot better. Plus Vendor B’s commitment to growth seems a lot stronger than Vendor A’s.
Should you and can you switch vendors? Ethically? Legally? Practically?
What did your written agreement with Vendor A say about that?
Aldonna R. Ambler, CMC, CSP has earned the right to be called THE GROWTH STRATEGIST™. She has won over 2 dozen national and statewide “entrepreneur of the year” awards for the resilient growth of her international businesses across 4 recessions. Her midsized BtoB clients get on…and then stay on…the published lists of the fastest growing privately held companies. She owns and operates a suite of companies that help privately held midsized companies achieve accelerated growth with sustained profitability® through opportunity & resource analysis, 4 approaches to strategic planning, executive advisory services, growth financing, and targeted search. 2012 is Ambler’s 8th year hosting a weekly peer-to-peer-to-peer syndicated on line talk show that features interviews with CEOs/Presidents of midsized companies (typically between $20 and 200 Mil/yr) sharing success tips about the growth strategy-of-the-week. An archive of over 300 interviews is available at www.GrowthStrategistShow.com. She can be reached toll free at 1-888-Aldonna or at Aldonna@AMBLER.com.
Then Share the Vision w/ People Who Have Money
Visit www.Natirar.com and you will see photographs of a 500 acre estate with lovely rolling hills, a winding river, and beautiful foliage. And you will also read information about the 90 Acres Restaurant, the farm that provides organic produce for the restaurant, the culinary center, the wine cellar, the refurbished mansion, and the planned SPA. I am not sending you to the site just to enjoy the pretty photographs. NATIRAR is a lesson in joint ventures and marketing.
The history is fascinating. The original owner was a wealthy Quaker woman whose will required that the mansion be used as a convalescent home for women for at least 50 years following her death. Go to the “our story” section of the site to read how Bob Wojitowicz envisioned something better for the 100 year old estate. Read how he reached out to Sir Richard Branson (yes…The Virgin Airlines Branson) to become business partners to purchase the 500 acre estate from the Royal Family of Morocco. Read why and how they now have a 99 year ground lease with Somerset County for the 90 acre parcel that includes all of the buildings.
Are your visions larger than your own resources? I hope so. The best projects involve other peoples’ money.
This week I participated in a reunion of NJ300 (a group of very influential women) at NATIRAR. Bob Wojitowicz shared the history and plans and then provided a tour of the mansion, restaurant, culinary center and wine cellar. Our private dinner included paired wines and culinary delights. I am certain that several NJ300 members will be returning to NATIRAR. Some will host client events there. Some will wait until the SPA opens. Some may suggest NATIRAR to their daughters when they start planning their weddings. A few will take cooking lessons at the culinary center. And most will return to dine at the restaurant.
Are you hosting events for prospective customers who have the resources to utilize your products and services? As influential as they/we are, the members of NJ300 have busy lives. The majority of the NJ300 members had not heard of NATIRAR; but they/we know about it now.
Aldonna R. Ambler, CMC, CSP has earned the right to be called THE GROWTH STRATEGIST™. She has won over 2 dozen national and statewide “entrepreneur of the year” awards for the resilient growth of her international businesses across 4 recessions. Her midsized BtoB service, technology, and distribution clients get on…and then stay on…the published lists of the fastest growing privately held companies. All of her current service businesses (strategic planning, executive advisory, growth financing, talk show, speaking, search) help privately held midsized companies achieve accelerated growth with sustained profitability™. Ambler is wrapping up her 7th year hosting a weekly peer-to-peer-to-peer on line talk show at www.Business. VoiceAmerica.com and www.growthstrategistshow.com that features interviews with CEOs/Presidents of midsized companies (typically between $20 and 200 Mil/yr) sharing success tips about the growth strategy-of-the-week. Family owned businesses are being emphasized in 2011. Ambler is in the process of launching her 8th enterprise. She can be reached toll free at 1-888-Aldonna or at Aldonna@AMBLER.com.
Recently, I’ve noticed more and more executives of midsized companies JUMPING into strategy implementation.
It’s too easy to fall in love with one strategy over another because you’ve heard a peer share a success story. “Hey, we could do a strategic alliance. George did it.” Well written articles or webinars with great case studies can convert some people into raving fans of joint ventures or roll ups. One of our clients became enamored with the idea of franchising his company after his wife was hired by a successful franchise.
The economy has created uncertainty. Bright ambitious executives (perhaps you) feel like caged cats and are “itchy” for a change. It becomes very tempting to JUMP right into a strategy. At least that way, something is happening, right? Well, disruption might be happening that way, but your team will not understand the rationale behind the strategy you have jumped into. You lose credibility as a leader. And successful implementation is risked. Some folks are JUMPING into strategies when they don’t know the differences between them, what each really involves, and the pros of cons of each. And then they are surprised when bankers are still reluctant to finance them.
Instead of jumping right into a strategy, this would be a great time to involve your executive team. Everyone could benefit from some concentrated learning. Your controller could be asked to analyze the costs associated with strategies like franchising, roll ups, joint ventures, etc. Your VP Business Development could be asked to analyze which approaches are being used in your industry and why. Your General Manager of VP Operations could study pacing and look at what is involved with each strategy. Everyone would be smarter and by the time you and your team select a growth strategy you will all have a much better sense of WHY it was selected.
Aldonna R. Ambler, CMC, CSP has earned the right to be called The Growth Strategist™. She has won over two dozen national and statewide “entrepreneur of the year” awards for the resilient growth of her international businesses across four recessions. Her midsized B-to-B service, technology and distribution clients get on…and then stay on…the published lists of the fastest growing privately held companies. All of her own service businesses (strategic planning, executive advisory, growth financing, radio show, speaking, search, etc.) help midsized companies in Achieving Accelerated Growth With Sustained Profitability®. Ambler is in her 7th year hosting a weekly peer-to-peer-to-peer online radio program Growth Strategist Radio Show, at www.GrowthStrategistRadioShow.com, that features interviews with CEOs/Presidents of midsized companies (typically between $20 and 200 Mil/yr) sharing success tips about the growth strategy of the week. She can be reached toll free at 1-888-Aldonna or at Aldonna@AMBLER.com.
If you read my weekly blogs, you undoubtedly also know that I host a weekly on-line radio show called The Growth Strategist™. I’m in my seventh year hosting it and just LOVE hearing about what people have done to make growth strategies like acquisitions, franchising, market expansion, etc really work. My guests are all Presidents/CEOs of midsized companies (typically $20 -200Mil/yr) so they are all bright and experienced. Most convey enthusiasm and are articulate. We are coming up on our 300th show soon (YEAH!) plus I’ve provided strategic guidance to over 800 consulting clients over the years. The point is…by now I can hear some distinctive patterns. Some of the patterns may not be surprising. But in a way, if they are so predictable, wouldn’t you think that more executives would be addressing them by now?
For example: When I am rehearsing with the President/CEO of a family-owned business, I usually get candid responses to questions about target markets, primary customers, and key products.
Don’t get ahead of me here. Of course, I can’t start with questions about succession, exit strategies, or executive compensation. Heck…an executive doesn’t have to be running a family owned business to be reluctant to talk about all of that.
Take a step back from all of that. The answers from executives of family owned businesses seem strained when the topics of strategic alliances, joint ventures, or acquisitions come up. The implication is that internal relationship issues make negotiations with outside entities more difficult. These days, that fact would certainly turn “family owned” into a handicap because customer expectations are going up and up. The cost of trying to do everything yourself is becoming prohibitive. Plus the world is getting smaller and smaller. Today, a family must proactively address relationship issues that slow down strategic analysis or decision-making. It sure comes across in media interviews. The radio guests who attract new business opportunities as a result of appearing on my show have conveyed openness, clarity of direction, a capacity to interact with a wide range of people, and an understanding of how deals are struck.
I’ve also noticed that most of the female executives avoid directly answering questions about strategy. I repeat, my guests are all Presidents/CEOs of midsized companies. These are accomplished executives! I’ve been amazed how many times I have had to encourage (no, plead) with the female guests to share the logic behind major decisions like acquisitions, new products, or geographic expansion. Several have been reluctant to directly respond to the straight forward question about their gross revenue… even though the numbers are plastered all over press releases and resources on the Internet. And when these reluctant female executives do share their gross revenue, they provide too much explanation. It sounds almost like an apology. Some of them are running $Bil businesses! Why on earth are they apologizing to anyone?
There are undoubtedly several understandable reasons for the reticence to just talk, but frankly, my experience as a talk show host has given me new insight about why so many corporations have been reluctant to appoint successful women business owners to their corporate boards. The major search firms who are looking for board members screen shows like mine. They must be concluding that the female guests CAN’T think strategically or CAN’T keep up with a high level discussion. That’s very sad.
Aldonna R. Ambler, CMC, CSP has earned the right to be called THE GROWTH STRATEGIST™. She has won over 2 dozen national and statewide “entrepreneur of the year” awards for the resilient growth of her international businesses across 4 recessions. Her midsized BtoB service, technology, and distribution clients get on…and then stay on…the published lists of the fastest growing privately held companies. All of her own service businesses (strategic planning, executive advisory, growth financing, radio show, speaking, search) help privately held midsized companies achieve accelerated growth with sustained profitability.™ Ambler is in her 7th year hosting a weekly peer-to-peer-to-peer on line radio program at www.Business.VoiceAmerica.com and www.growthstrategistradioshow.com that features interviews with CEOs/Presidents of midsized companies (typically between $20 and 200 Mil/yr) sharing success tips about the growth strategy-of-the-week. Family owned businesses will be emphasized in 2011. Ambler can be reached toll free at 1-888-Aldonna or at Aldonna@AMBLER.com
The executives of a public relations firm that specializes in crisis communication for large corporations in the healthcare industry recently asked us if they could grow more quickly through acquisitions, joint ventures, strategic alliances, and/or subcontracting. We could move fairly quickly because they know where their “sweet spot” is.
They could possibly benefit from a joint venture with another public relations firm that serves the pharmaceutical industry and provides something other than crisis communication services. That way both firms expand into related industries. They might consider strategic alliances with law firms that excel at risk assessment or confidentiality agreements. They could subcontract a firm that can translate sensitive messages into various languages. Or they could acquire a competitor with long term experience in crisis communication or healthcare clientele their firm has not attracted.
A web design firm posed the same question to us and the answers were not so evident. They had resisted clarifying target markets, establishing core products/services, declaring geographic range, selecting their scale for projects, identifying the primary problems they solve, etc. Without being centered, they could waste a lot of time and spend a great deal of money trying to do an acquisition, and then only end up with a tired Baby Boomer who is trying to eke out a little bit of money from his dying business. How would they know how much they should invest in a subcontractor if it isn’t clear whether the services provided will be central to future growth or of marginal importance?
Before any deal can succeed, the leaders of the companies involved need to know who they are and where they want to grow. “No duh, right?” It is amazing how many times deals fall through or follow up falls apart because the individual companies weren’t centered before a relationship was explored.
It can help to use a CUBE to graphically capture your “sweet spot” to keep it in the forefront of your mind as opportunities come up. One axis could be the range of services/products provided. The second axis could convey customer size. The third axis could convey target markets. Or you could define your sweet spot by challenges solved, geography served, or duration of contract. Where does your business stand along these various continuums?
A deal is a sale with a non-customer.
Some deals help your company acquire new technologies or capabilities more quickly than trying to develop it yourselves. Some mergers and acquisitions are done between complementary companies to expand the product or service offering to better serve the best customers. Acquisitions can also be done to eliminate a competitor in an important market.
I noticed that the lingering recession has led some tired entrepreneurs to consider acquisitions and mergers as a way to get relief from their intense schedules. Unfortunately, this increases the vulnerability of the already tired entrepreneur. Wishful thinking takes over, and the entrepreneur convinces him/herself that an acquisition can solve their problems. Why not hire a strong “#2” and get centered again before considering any acquisition or merger?
I have become convinced that acquisitions are like marriage. When a tired single parent marries to “solve his/her problem,” new problems often develop. Acquisition, merger, and marriage negotiations all seem to go more smoothly when each participant is centered.
But what do you do when/if the two entities don’t seem “centered”? What if you thought you were negotiating a merger, and the other entity (key person) waffles, seems a bit too nervous, and withholds information? It pays to slow down and expand your view. Maybe the other person just wants to cash out and retire. Maybe he/she had become bored. Maybe the transaction will only involve the purchase of assets so you don’t take on their debt or “people” issues. Maybe you should only offer to pay a licensing fee and not purchase anything. I’ve seen acquisition negotiations end in simple subcontracting arrangements. We all know couples who concluded that they should just continue dating one another.
The best deals are when the leaders of two companies look for synergy (fit) and leave their options open…instead of starting the process assuming the answer will be an acquisition or merger. If there is not win/win fit, the title of the deal you don’t make won’t matter. It pays to leave the structure of the deal to attorneys. Whether it’s a strategic alliance, a joint venture, an acquisition, a merger, an asset purchase, or something else isn’t the most important question.
You just launched a new product aimed at your niche market. You thought you had a great head start, but today you learned about a very similar product being promoted to the same niche by a new competitor.
So what is your reaction?
It’s amazing how many companies overreact and immediately shift their marketing and pricing. If your marketing campaign featured the language of a market leader a few days ago, wouldn’t you look a bit paranoid if you suddenly shifted to “challenger” language? Why point out the limitations of the competitor’s product? If they are relatively new, they may not recognize their limitations, and you will just be teaching them how to compete against you. Why automatically lower your price? If you are really tempted to do that, perhaps you need to improve your product instead.
Maybe the “new competitor” could actually become a resource for you. Having a new competitor in your niche market may be an indication that you should speed up your product development cycle. If the competitor has demonstrated an interest in your niche and a capacity to produce a high quality product, maybe it’s time to learn about their capabilities. Who knows? They could become a subcontractor, a joint venture partner, or a candidate for acquisition…with you still in the leader position within your niche.
Here’s a suggestion for busy Presidents/CEOs of midsized businesses (especially $20 – $200 Mil/yr) who
Why not download free online radio shows onto your iPod to take to the gym? Take shows featuring interviews with your peers on the Inc. 500 list of the fastest growing privately held companies who are sharing success tips about the growth strategy-of-the-week.
Most of you, the readers of my blog and Twitter tweets, know that I have been hosting a peer-to-peer-to-peer online radio show The Growth Strategist™ for 5 years now. We rotate through various geographic locations, industries, and growth strategies. One week, my show might feature an interview with the President of a Singapore-based retail company that has grown through franchising. The next show may be with the CEO of a Kansas City-based manufacturer sharing success tips about how they’ve grown through acquisitions.
Many of the guests on my show are on the Inc. 500 (or at least the Inc. 5000) list of the fastest growing privately held companies. They are bright, ambitious, somewhat intense, fabulous leaders….just like you. The show is #2 in its category and attracts over 180,000 listeners.
I have LOVED hosting the show. How can the discussion of growth strategies between people who actually live the journey EVER be boring?!
I open each show with some tips on the growth strategy-of-the-week gleaned from my 30+ years of experience as a growth strategist helping midsized companies earn and keep their spot on the Inc. 500 while increasing their profitability. Many of you know that I have also won over two dozen national and statewide “entrepreneur of the year” awards for the resilient growth across 3 recessions of my own midsized businesses. So I share examples from my own journey as well.
It’s been 5 years so my website, www.TheGrowthStrategist.com, and the station’s website (www.business.voiceamerica.com) now have over 200 downloadable shows (podcasts if you prefer) available for you to download onto your mp3 players and take to the gym. Our research shows that most listeners do that or they listen to the show between 11:00 pm and 1:00 am as they do their last round of email “after the spouse and the kids have gone to sleep for the night”. The only reason you would break from an important meeting to listen to the live broadcasts each Tuesday at 11:00 am EST would be if you wanted to ask a question. Most listeners send emails with questions to me and my guests following the shows. It’s NOT like traditional radio broadcasts where listening at the exact time of the live broadcast represents your only opportunity.
Why wait for teleseminars when you can download 5, 6, …sometimes as many as 10… timely peer level radio shows focused on a growth strategy you are using or have been considering, including
I did a series of shows earlier this year about ‘HOW TO CHANGE YOUR BUSINESS MODEL” and another on “THE CHANGING IMPACT OF REAL ESTATE ON STRATEGIC GROWTH DECISIONS”.
You can suggest topics, offer to be a guest, or recommend someone else you think might be an interesting guest. The toll free number is 1-888-Aldonna and the email is Aldonna@AMBLER.com.
Systems Of online payday loans direct lenders Some Background Guidelines