An Executive Director of a Chamber recently told me that of all the seminars she puts on, the seminars on business development and increasing sales are the most highly attended. Not surprising, given the struggles most businesses experienced during the Great Recession. Owners are also finding it more difficult to bring in more business than they did in the past. During the good times of yesteryear, businesses didn’t have to work real hard at bringing in new customers or increase sales to existing customers. They came in as part of what was then, the ever rising high tide of increased wealth and over spending.   

L’effondrement de la bulle techno d’il y a dix ans n’est plus qu’un vague souvenir, tout comme les convulsions économiques qui ont suivi les tristes célèbres attaques du 11 septembre. Bien que les hauts et les bas qui nous a amenés de la reprise à la croissance ait été grisants au milieu de la dernière décennie, si l’on fait un retour arrière à partir du milieu de l’année 2008 jusqu’à la fin de 2009 (période de 18 mois), ce qui se distingue est l’extraordinaire recul et dévastation économique que nous avons éprouvés. À l’aube d’une nouvelle décennie marquée par la reprise, nous avons quelque peu mûri, mais nous n’en sommes pas moins un peu « commotionnés ».

As a new decade dawns in a period of recovery; we’re a little older, but still a little “shell shocked”. Hopefully as we go forward, we’ve become more realistic with our “Great Expectations” for the decade ahead. The roller coaster we experienced over the last 10 years has perhaps stopped for the moment,   but only long enough to allow some brave souls to get on and others to get off.  As it is starting up again, what were the significant trends in Mergers & Acquisition activities of the last decade that might help us project how to better handle the ride ahead?

By following the “4 Step Process”, a one- or two-page outline can offer a concise and powerful plan providing needed direction and guidance in moving forward through the recovery. It will take some owner time, but not a large investment. Also, it is something that can be done on their own or with limited guidance.

Most business owners and managers today maintain a continuing concern and a crisis mentality dealing with the future economy. Why then is there still not more optimism and positive future planning? The reason is that while most executives are coping relatively well with the demands and effects of the economic crisis, they have not yet adjusted to the “new normal”.  However the “new normal” is not new at all. It represents a return to old-fashioned business values of using leverage judiciously, watching cash flow rigorously, investing in people and systems, and keeping an eye out for growth. This recession presents an unprecedented opportunity, at least in a generation, when small to medium sized businesses have access to a large pool of well-trained and highly experienced personnel; yet people problems loom on the horizon.

The party is over; you can no longer leverage yourself to success betting on inflated values and unlimited growth. Instead you must build an efficient business model predicated on sound financial principals and clear strategy.

To state that it has not been a terribly good year, would be a tremendous understatement. From real estate, to stock investments, to credit line decreases, to credit unavailability, both consumers and almost all sectors of business were hit and hit hard.

Eliminating the dependence of a business on its owner is arguably the most important factor in enabling a profitable sale.

A smooth exit requires sound planning years in advance.

Succession planning is one of those management issues that rarely gets attention until a partner announces plans to leave or retire, or, more disastrously, is suddenly removed by illness or death.

70 million baby boomers in the United States are fast approaching retirement age during the next five to 20 years. They will transfer 10 trillion dollars to later generations.

Just as the maturation of the baby boomer generation will place unprecedented strain on social security and health funding, so the boomer business transition bulge will strain and possibly overwhelm the available supply of buyers.