Stage 4 Leveraging Equity for Exit

May 13

Writing Stage four of my book “The Health Practitioners Journey” I challenged myself to include the many pathways that practitioners may take to a new opportunity or exit. The stage is named ‘Selling your list – Leveraging equity’. When exploring this stage, I reflected on one of the habits that Stephen Covey talks of in his book “The Seven Habits of Highly Effective People”. That habit is “begin with the end in mind”.

I have always advised practitioners that it is crucial to keep an eye on how you will eventually exit what you do and move to something else. This may happen at any stage of your career. I made the focus in Stage Four about selling your asset to claim the financial return on your equity. Of course, this implies that you have established a business to sell which not everyone achieves.

I describe the possible scenarios to illustrate who this stage for:

‘The Opportunist’ is the practitioner who takes the unexpected offer that is made to him which was very financially beneficial.

‘The Retiree’ is the practitioner who has operated their business for some years and wished to unlock some money to use in preparation for retirement.

‘The Life Changer’ has worked fruitfully for some years but feels that there is something else they wish to contribute to, or commence and they want to do that while they have the passion and can devote time to that passion

‘The Corporate Opportunity’ can happen to a practitioner who has worked over 10 years in the industry and established a network of practices. The approach from the corporate company was not only to purchase their business but there was the added attraction of developing a role for the practitioner with the Corporation. This scenario was similar to that which I availed myself of a few years ago in my career.

The final scenario I describe is ‘The Career Changer’ who wishes to move onto something that is completely different.

If you see yourself in of the above scenarios you need to make some preparation! To make your business attractive you need to consider how the business looks both figuratively and financially. Identify the services you offer, the patient database you have developed and the current documented systems and processes e.g. recruitment, induction, HR, stock etc that you have or may not have in place.

Some questions to consider are:

How will you set a value for your business?
Who will assist you in the process?
Do you need an advisor?

One important word of caution for you. Ensure that you maintain confidentiality about the process; if you broadcast your intention it may affect the purchaser or destabilise your stakeholders. Change is a frightening thing to so many of us so don’t create fear by telling others of your intentions until you need to. If nothing happens with the process then no one is any the wiser.

Moving on from what you have created can be a painful process as you are passing on what you have built and will not be able to control what happens from then on. Make sure that you give due consideration to whom will purchase the business so that what you have built has the best chance to continue successfully when you are no longer in control of it.

This part of your journey can be exciting and rewarding, if approached with appropriate planning, support and forethought.

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Andrew Ford

Marketing expert Andrew Ford, the founder of Social Star, has discovered the secret of ‘Powerful Branding’. With a fire for unleashing people’s inner brand and developing business models to generate profit from an individual’s passions, Andrew leverages ground-breaking digital and social media marketing techniques to create digital strategies for clients to attract maximum opportunities. Having established a strong name for himself in the field, Andrew blends traditional business techniques with now-necessary tools for entrepreneurs to achieve scale, quality, and influence in their niche. Andrew’s comprehensive business background and qualifications consist of a Bachelor of Business (Marketing) (RMIT 2003), a Graduate Certificate in Management (MBA Executive Program, University of Sydney 2005), and a Masters of Entrepreneurship and Innovation (Swinburne University 2011). Continually on the cutting edge of his own education, Andrew has tested his marketing theories in forums such as the BCG Business Strategy Competition, which he won in 2005 against all Victorian MBA schools, and the Venture Cup Business Plan Competition (Swinburne University 2003), which he won in the Masters category. With experience working at Hewlett-Packard, Sensis (Telstra) and IBM, Andrew also has mentored dozens of junior staffs to help them achieve their professional goals. Meeting and influencing high-profile public figures helped Andrew to realise just how many professionals require more understanding and control of their public brands or appearance, and need help with the skills to use the many amazing free tools at their disposal to generate success. At Social Star, Andrew consults with clients to uncover their personal brand – both where it is today and where it can be tomorrow – and refine and define how that should be displayed in social media in order to attract their perfect target audience. Andrew mentors his clients to rapidly grow their business’ audiences, resulting in larger potential client bases and higher revenue. Applying formulas that integrate over twenty years of Andrew’s business experience and fifteen years of formal business education, Social Star specialises in building clarity and velocity for clients’ brands using the ‘Understand, Build and Leverage’ methodology. ‘Having a Personal Business enables people to have an authentic, congruent connection with their valued clients and partners, using their brand as the bridge,’ says Andrew. ‘I’m highly driven to work with the new breed of entrepreneurs and small business owners – people who have a passion for making the world a better place. Traditional business models are stepping aside as people follow their innermost dreams and my role is to see them operate within their values while creating wealth. Some people think you have to sacrifice what you love to be successful in your business, yet it is actually the opposite. Follow your passion and success will come.’ Lecturing at Swinburne University from 2009 to 2011 on brand dynamics and digital marketing, presenting at numerous conferences, and consulting to hundreds of clients, Andrew has seen his philosophy work that if you follow your unique path, based on your skills, experience, values and goals, you will automatically attract the opportunities you desire and achieve the success you deserve. Living his mantra, Andrew has created a successful business and attracts high-profile clients including musicians, athletes, authors, models, entrepreneurs, professionals and small business owners, helping them find their ‘why’ in their business and fulfilment in their lives. Business for Andrew is more than work, it’s personal. Running a personal business means that he is able to fulfil all of his values rather than separating his life from work. It supports his two boys while providing social opportunities, educational development, fitness opportunities, spiritual fulfilment and many valuable friendships. Social Star has now become the vehicle for Andrew to crystallise his mission in the world, to help people love what they do, supporting his ‘why’, that if more people loved what they did, the world would be a better place.

http://www.andrewford.com.au/

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