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December 2007 Newsletter
Welcome to Business Search and Consulting, Inc. December 2007 Newsletter
"The future lies in hand of those who have a vision for innovation, versatility
and the power to make things happen". - Unknown |
Minimizing Stress and Maximizing Value During the Sale of a Business
It is often said that the most valuable asset a Company has are its
employees. 99% of the time you can take this adage to heart and
hopefully to the bank. How do you preserve this balance when you to
sell your business? What will employees think if they know the business
is for sale?
Public knowledge of a business for sale can cripple the business value.
Employees wrongly assume that the new owner will routinely dismiss
them. It seems, the unknown has a great capacity for generating fear
and anxiety. If you were in the employees' shoes, what would you do if
you believed dismissal was imminent? Most will update their resume,
post their information to the biggest job search engines and start
talking to everyone they know.
How do you preserve the team and prevent a mass exodus? Every situation
is unique and some owners are more paternalistic with their employees
while other employers are more open with their crew. Here are some
strategies that have worked for owners successfully in the past:
- During
a Company meeting, tell the employees that you (the Owner) are looking
to add a Working Partner to help grow the Company. Why does this work?
It assures continuity of the Owner's presence and the Company. It shows
that the Owner is committed to keep the company intact as an ongoing
concern. Employees can understand the need the Company may have for
additional capital, and help the Owner if he is growing older or is
overworked.
- Some
smaller companies that keep no secrets, the Owner will tell his
employees, that he wants to retire and is pursuing the sale of his
business. In a family type company, his family members wont begrudge
the Paternal figure the opportunity to retire and will not feel
threatened by that fact. This approach is used rarely, but can be used
in the right circumstances.
- Another
approach is to keep everything confidential until the business has in
fact been sold. The new owner is introduced, he passes out W-9 employee
forms (assuming an asset sale), gives his vision speech and also his
affirmation to retaining the team and growing the business together.
This is harder to coordinate and requires offsite meetings, before and
after business hours. The beauty of this approach when executed
properly, it pre-empts the worry factor on the employees part. In
almost every case, the employees are curious and give the new owner the
benefit of the doubt.
These are some approaches that by
and large have worked time, time and again. Every group is different
but the goal is the same. Preserve the team and you preserve the
goodwill factor. Ironically, employees become even more valuable after
the transfer. A future article will explore how to increase employee
morale satisfaction without doubling the workforce and salaries!
Visit our main website: www.bizsearchandconsulting.com. Also visit: www.freebusinessvaluation.net and www.sellcorporation.com to find out more. You may also contact Christopher Mok, by phone (408) 245-8700 or via email: zbizfinder@pacbell.net
Testimonials
"I enjoyed running and operating a multimillion dollar enterprise which
took twenty five years to build. I am proud of our people and our
reputation. After several heart attacks and a double by-pass surgery, I
knew it was time retire. Chris helped me achieve that with competence
and dignity, not to mention a respectable price."
- Pat Moore, former President of Moore Material Handling Group, Inc
"Chris represented me in my successful acquisition of a $3,000,000
professional staffing firm. He found solutions to issues that had
eluded my attorney and CPA and were ultimately accepted by the other
side of the transaction who were very well represented.
Almost two years after completion of the transaction, Chris helped me
in getting the Company refinanced. Chris goes beyond performing the
requirements of a transaction. He is a good listener and professional
sounding board. I feel fortunate to be able to count on him for astute
insights, problem solving and resourcefulness. I recommend Chris Mok
without reservation."
- Larry Hammons, current President of Rational Technology, Inc.
Click here to read more testimonials.
Assisting Organizations and Individuals to Achieve their Goals
Christopher Mok invites you to become an enterprising entrepreneur with the power to excel as a professional. Business Search and Consulting Inc.
was created in 1993, as Chris Mok wanted to help individuals follow
their passion and realize dreams. As a professional with keen foresight
and business acumen, Christopher Mok has 15 years of experience in
valuation, acquisition and sale of businesses. He has appraised and
valued over hundreds of businesses and is an accredited appraiser.
Christopher Mok has also taught business valuations at the Masters
Level at the Golden Gate University, San Francisco, U.S.A.
Visit our main website: www.bizsearchandconsulting.com.Also visit: www.freebusinessvaluation.net and www.sellcorporation.com to find out more. You may also contact Christopher Mok, by phone
408-636-2155 or via email: zbizfinder@pacbell.net
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November 2007 Newsletter
Welcome to Business Search and Consulting, Inc. November 2007 Newsletter
"The future lies in hand of those who have a vision for innovation, versatility
and the power to make things happen". - Unknown |
Do You Want To Start A New Business?
Christopher Mok invites you to become an enterprising entrepreneur with the power to excel as a professional. Business Search and Consulting Inc.
was created in 1993, as Chris Mok wanted to help individuals follow
their passion and realize dreams. As a professional with keen foresight
and business acumen, Christopher Mok has 15 years of experience in
valuation, acquisition and sale of businesses. He has appraised and
valued over hundreds of businesses and is an accredited appraiser.
Christopher Mok has also taught business valuations at the Masters
Level at the Golden Gate University, San Francisco, U.S.A.
Visit our websites: www.freebusinessvaluation.net and www.sellcorporation.com to find out more. You may also contact Christopher Mok, by phone 408-636-2155 or via email: zbizfinder@pacbell.net
Begin A New Life
Business Search and Consulting Inc.,
showcases a multi-faceted range of services guaranteed to help you to
start a new business. The founder has incorporated dynamic quality
services such as, valuation and appraisals for buy/sell contracts, divorce, trust, estates and lender applications. In order to channel resources, the company also identifies prospective businesses for newcomers who want to start a business.
With an all round gamut of services, the company guides inexperienced
individuals to set up their own business. By providing capital as well
as access to financial, legal and accounting professionals, Business Search and Consulting Inc., motivates its enterprising entrepreneurs by giving them a new lease on life. The company also offers their professional services for people who want to sell their business without the usual and unwanted hassles.
Channel Your Aptitude
Christopher Mok in identifying aptitudes and directing them into new avenues has structured Business Search and Consulting Inc.,
with innovation and versatility. The company provides working capital
for new business owners and offers financing services by providing
working capital to sellers. To add a new dimension, Christopher Mok has
blended a personal touch with professional services that helps the
entrepreneur to channel his/her talents to acquire the pot of gold at
the end of the rainbow!
Follow Your Passion
In order to encourage entrepreneurial talent, Christopher Mok has structured Business Search and Consulting Inc.,
with vibrant modules like financial restructuring, referrals and
strategic marketing. With a professional outlook, the company provides
services to industries in the manufacturing, service and distribution
sectors. Business Search and Consulting Inc.,
has notched several prestigious accolades in the corporate field having
completed major projects with more than satisfactory results.
So get started with Business Search and Consulting Inc., and let Christopher Mok give your business the leverage it deserves!
Also visit www.freebusinessvaluation.net and www.sellcorporation.com for more information.
You can contact us on phone: 408-636-2155 or via email: zbizfinder@pacbell.net. |
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