 How can business owners increase their visibility in the community? Read on for some specific suggestions. If you know anyone who is thinking about buying or selling a business, or optimizing a business before they go to market, we would be glad to assist them. We specialize in IT and technical service companies. Your referrals are appreciated. Sincerely, 
John Austin & Bob Dale
Austin Dale Group
512-327-0427
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Business Visibility
From time to time, a business owner should ask, "Am I 'out there' with community relations?" While it is important for a business owner to keep the business name continually out in the marketplace, there is even greater benefit to making the company's image visible to the public. Advertising can build image at the same time it attracts business. Anything from a monthly newsletter (hard copy or on-line) to the offering of free seminars positions the business as more than just the sum of its products.
An example of a business owner with multifaceted image-making skills is a caterer in Asheville, N.C. This caterer dishes up the city's best lunches and dinners, whether for takeout or to eat with obvious relish at the small tables she sets out on the sidewalk. She sends out a monthly newsletter with recipes and manages to snag appearances on radio programs to talk about her commitment to buying local food. When Garrison Keillor's "Prairie Home Companion" (a production of Public Radio International) came to town, she volunteered to cater for the cast and crew. They ended the program by having her stand for a huge ovation. Her small store-front operation had a line the next day that wound around the block.
For the less adventurous, or conspicuous, there are plenty of more conservative ways to promote the business and its owner. Taking an active role in the Chamber of Commerce, getting involved in trade or service associations, and sponsoring worthy local events all contribute to great public relations. In addition to the more traditional public donations - providing kids' sports team uniforms, taking out ads in yearbooks - employees can join hands for walkathons or volunteer to work the phones for public TV or radio fundraisers. Being a good community partner is good for the business, good for the workers, and it's good for the business owner.
When it comes time to sell a business, contacts made through community involvement as well as a positive reputation within the community will benefit both the seller and future buyer. |
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What Can a Seller Do Prior to Selling?
The following suggestions not only help smooth out and speed up the business transaction process, they are also important for preventing a sale from falling through.
- Dispose of non-operating and/or nonperforming assets prior to selling.
- Enter the process with a willingness to close as quickly as possible.
- Understand that a win-win transaction is best for all parties.
- Maintain financial statements that present the business clearly and concisely.
- Clean up any unresolved accounts payable, pending litigation or environmental issues.
- Always remember that first impressions really do count.
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Staying power (part 4 of 5)
How to retain key employees during the M&A process
Nothing can turn a sweet M&A deal sour faster than a key employee leaving the company before the transaction is final. This kind of loss can reduce a company's selling price, hinder integration plans, turn a star executive into a formidable competitor and even shut down a deal altogether. But bonus plans and other incentives can motivate key employees to stay and help reduce the odds that this common M&A mishap will happen to you.
Committing to the future
Before you offer an employee a retention bonus, be sure to thoroughly assess the individual's performance and productivity to ensure he or she is worth the financial commitment and really is essential to the successful execution of your M&A deal. Also make sure that the employee is invested in the future of the company and willing to stay on board. Paying bonuses in installments gives employees an incentive to remain as long as you need them. But you also may want to consider asking employees to sign agreements that bind them to your company.
One size doesn't fit all
You'll likely find that a bonus plan is just part of a larger strategy to entice key employees to stay - one that also includes a good working environment, feedback and praise, and new challenges. |
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Free Webinar: "M&A Opportunities in the lT Services Market"
The recent performance of the capital markets and other leading indicators point to an uncertain economy and a slow rebound in merger and acquisition activity for most small and medium-sized companies. However, M&A activity in the IT service sector is relatively strong because investors are excited about newer technologies like cloud computing, the SaaS model, and managed services.
In the first part of the presentation we will discuss trends in the M&A market for IT companies. Then we'll cover what makes IT service companies attractive. After that we will present the M&A process and highlight the differences between buying and selling. We'll finish up with a brief discussion about exit strategies. Whether you are looking to sell your company, buy an add-on, or spin-off a portion of your practice, this presentation will help you understand the current M&A marketplace for IT firms.
This webinar is designed for owners and executives of IT service companies and solution providers.
Date: February 15, 2012 (Wednesday)
Time: 11:00 AM to 12:00 PM (Central)
https://www3.gotomeeting.com/register/774995726
Click to register, seating is limited. |
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Seven Markers of Maximized Value
Several factors beyond revenue, growth, and profitability can affect the value of a business. Here are seven markers that indicate you have reduced your perceived risks and maximized your business value.
1. Strong management.
2. Customer diversity.
3. Contractually recurring revenue.
4. Robust internal systems.
5. Proprietary or unique products or services.
6. Intellectual property and brand equity.
7. Professional financial statements.
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Contact Us
Austin Dale Group
512-327-0427 info@austindalegroup.com
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