Reinventing yourself? - Start with a Personal Business Model
Success starts with asking the right questions
There are thousands of publicly listed Business Opportunities on the internet; and yet fewer than 20% of them will actually sell. There are even more people searching those listings and worse yet, fewer than 5% of them will buy one. The values are too low and the risks are too high.
Who can blame the 95% who look but can never buy? The information they can see is how others have done with these businesses. Even if it's true (and it might not be) the numbers presented are how the Seller has done. There are no guarantees the Buyer will do as well.
Knowledge is the least expensive way to mitigate risk. What knowledge is needed here? Surprisingly, it's not what is requested. Almost every new business buyer starts on a quest for detailed financial information. The risks are not about what OTHER people have done or projected. The real question is, What can YOU, the Buyer, do? To answer that, the Buyer needs a Personal Business Model.
Anyone familiar with Business Plans hates them. They're tedious and boring. Business Models, as described in Business Model Generation, are a highly visual one page graphic of how the business really works. A new book being released in early 2012, "Business Model You", takes this innovative approach and applies it to individuals instead of organizations. The core of successful personal reinvention is to see YOURSELF as a business. The process starts with looking at yourself today ("as is") and then takes you on a systematic journey of reinvention to where could you be IN BUSINESS TERMS.
This isn't career counseling, where you discover that if you like mowing lawns you might consider landscaping. It's a hard look at where you can add real value to others and receive compensation for it. Often the result of a Personal Business Model is a fresh perspective on how to be more successful exactly in your current job. The point is, as a prospective business buyer you now have a holistic picture of what you are seeking. Now, looking at other business financial information makes sense.
For those in the Dallas/Fort Worth area, we are offering Personal Business Model workshops. Use the form below to schedule an appointment in Dallas or call 817 471 9961 to discuss offering these workshops to your groups.
Who can blame the 95% who look but can never buy? The information they can see is how others have done with these businesses. Even if it's true (and it might not be) the numbers presented are how the Seller has done. There are no guarantees the Buyer will do as well.
Knowledge is the least expensive way to mitigate risk. What knowledge is needed here? Surprisingly, it's not what is requested. Almost every new business buyer starts on a quest for detailed financial information. The risks are not about what OTHER people have done or projected. The real question is, What can YOU, the Buyer, do? To answer that, the Buyer needs a Personal Business Model.
Anyone familiar with Business Plans hates them. They're tedious and boring. Business Models, as described in Business Model Generation, are a highly visual one page graphic of how the business really works. A new book being released in early 2012, "Business Model You", takes this innovative approach and applies it to individuals instead of organizations. The core of successful personal reinvention is to see YOURSELF as a business. The process starts with looking at yourself today ("as is") and then takes you on a systematic journey of reinvention to where could you be IN BUSINESS TERMS.
This isn't career counseling, where you discover that if you like mowing lawns you might consider landscaping. It's a hard look at where you can add real value to others and receive compensation for it. Often the result of a Personal Business Model is a fresh perspective on how to be more successful exactly in your current job. The point is, as a prospective business buyer you now have a holistic picture of what you are seeking. Now, looking at other business financial information makes sense.
For those in the Dallas/Fort Worth area, we are offering Personal Business Model workshops. Use the form below to schedule an appointment in Dallas or call 817 471 9961 to discuss offering these workshops to your groups.
