Process Makes Perfect — Quick musings from the CEO’s desk
Many companies wrestle with diversifying revenue. Owners come to us all the time showing new revenue streams that are usually a small, but growing percentage of revenues. Buyers twist themselves into a pretzel trying to figure out whether the progress on the revenue side is a blip on the screen, true traction in a market, or the tip of the iceberg with a large total addressable market (TAM) to go after.
Buyers have a lot of respect for bootstrapped businesses that have made traction in core and new markets. Buyers, especially private equity firms, know a good process when they see it. Sellers can help themselves, by showing that they have set up smooth new customer acquisition, and new customer onboarding processes, just to name a few. Having these processes in place show buyers that there is a process mini-platform in place that can handle quick growth by adding resources in the right places. Creating the process AND adding resources to move customers through it seems more daunting to a buyer and less of a confirmation of a real market opportunity.
This can apply to all types of businesses: media, events, information services, training, etc.
John McGovern, CEO Owner
PH: (212) 255-9700
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