By Gretchen Rosswurm on October 14th, 2013 I can’t believe I’m going to do this. I’m about to share my secret weapon for change communications. When I tell you my methods you’ll say, “Right, I knew that all along.” But the real question is, do you apply what you know? Early in my career, I worked at a heavy-manufacturing plant. We were implementing a new product line intended to improve quality, cost and competitiveness. In one way
BY ANDREW SILVER One type of buyer for your company offers more money. The other acquirer is more likely to let you keep running the show. The private equity fund was interested in my deal. The partner said they’d looked at 48 companies in that market sector, and this was the first one they liked. They made a non-binding offer that was attractive to the seller, and began due diligence. Ninety days later, they walked. This
We often are approached by sellers who have had contact with a potential buyer. We advise these sellers to enter a controlled auction process and to act as follows: Do Not: Show financials of any kind; These need to be reviewed and adjusted by a professional to show accurate performance; Show or discuss anything relative to customers, employees, suppliers – these are your special formula’s and should be protected; In essence – don’t show them
What is a Controlled Auction Process? In a controlled auction process our objective is to create a competitive market among multiple buyers for the sale of a business. There are three primary purposes of a controlled auction process: To test the market to find the highest sales price; To create a competitive bidding process; To create multiple options for the seller to evaluate.
on September 25, 2013 by Billy Fink Last night, Axial hosted a panel discussing exit strategies for portfolio companies. The panel — which was moderated by Jon Marino of theDeal.com — included John S. Castle of Branford Castle, Tim Shanley of Huron-backed Victoria Fine Foods, and Elgin Thompson of Marcum Cronus. Using their experiences as a buyer, operator, and intermediary respectively, the three discussed major trends and techniques currently impacting exit strategies. Below are some of the key takeaways from the
This week I was fortunate enough to be profiled by the Des Moines Register. It came as a complete surprise and was a nice follow up on last week’s discussion of the philosophy of Aspen Grove Investments. I am grateful to them for doing so, although now I have had my 15 minutes of fame! I am also gratified by the outpouring of support that I received from that article. I heard from many friends
The Des Moines Register interviewed me recently and I was surprised to get an email from a friend alerting me to it New Year’s Eve. I hope you enjoy it. Job description: We have created a business model to help business owners develop and execute an ownership transition strategy. You will notice we use ownership transition planning instead of “exit planning” or “succession planning,” because we believe that transitioning the ownership of a business involves much
I am often asked about the name Aspen Grove Investments and how I came up with it. It is a somewhat different name in this part of the country and also in this industry where names that are hybrids of “Integrity”, “Global” and “Entrepreneurial” are often over-used. Confucius said: “Ability will never catch up with the demand for it.” I chose the name Aspen Grove Investments centered very much on the quote above and the
Benchmark and Measure Success. This is a critical factor in your Ownership Transition Plan which includes the following issues: Define and measure success; Identify critical industry metrics; Measure sales activity and effectiveness; Track revenue from new or returning customers or markets; and Measure and evaluate customer retention.
Matthew Siegel One of the most important shifts in many companies today is the move toward a capabilities-driven strategy. Companies that define a “way to play,” lined up with a handful of key differentiating capabilities that deliver on that value proposition, have a definite competitive advantage. Your own company may have redesigned your strategy accordingly. Now it’s time to execute. Undoubtedly, you already have a planning and performance management system—otherwise known as a strategic plan and