The “wow” factor matters. Like it, or not, you are in show business. You are an expert. And your firm is made up of experts. No one wants to buy the boutique that regurgitates other people’s innovations. They want to buy the song writers, aka The Rolling Stones.
Year: 2020
Episode 13: The Boutique: A DIY Approach to Raising Growth Capital
Scaling a boutique takes money. This type of money is called scale capital. There are three primary sources of scale capital. Each has a set of advantages and disadvantages. Which is best for you is highly situational. And all work well when applied correctly. If raising scale capital makes you uncomfortable, do not attempt to scale. Many people are happy with lifestyle businesses.
Episode 12: The Boutique: Designing Your Organization to Enable Your Exit
The perceived difficulty, or ease, of integrating your boutique will affect your sale. Understand the org model of the type of firms who might buy you. Redesign your model to be seamlessly integrated if bought. This will increase the chances of exiting.
Episode 11: The Boutique: Earn Your Earn Out
Most acquisitions fail. The primary reason for failure is poor culture fit. Do not hide your culture. Lead with it. You want your sale to be successful. Therefore, you need to find a buyer who fits your culture.
Episode 10: The Boutique: Do You have a Bankable Team?
The quality of the management team is of major importance to a buyer. It can take years to develop a bankable team.
Episode 9: The Boutique: A Little Known Secret: How Employee Loyalty Drives Up Valuation
Potential acquirers need a factual gauge of employee loyalty before they write the check.
Episode 8: The Boutique: The Real Reason Revenue Growth Flatlines inside of Professional Services Firms
Transitioning away from a Partner Led sales model to a commercial sales engine is a
key to creating wealth for owners of professional services firms. Learn how in this
episode.
Episode 7: The Boutique: Move Beyond the Billable Hour and Monetize Your Intellectual Capital
You have more intellectual property than you think, and you can monetize it. Learn how to monetize your intellectual property.
Episode 6: The Boutique: Transform Income into Wealth
All revenue is not good revenue. You will learn that some types of revenue create more wealth for owners than others.
Episode 5: Create Wealth by Converting Client Relationships into Balance Sheet Assets
A key to attracting a buyer to purchase your firm is your ability to prove you have healthy client relationships. Learn how to convert client relationships into appreciating assets on a balance sheet.