It's been discovered that the most violent and invasive cancer
treatments aren't working as well as the more gentle and subtle ones.
The particular cancer, in a particular spot, may be annihilated quickly
but these invasive treatments so weaken the body (and the healthy cells)
that the cancer returns easily. More gentle treatments take a little
longer to move the cancer but the body (ah, yes, the person!) lasts a
lot longer and healthier.
It's like the Americans attacking
Vietnam or Iraq, to save the goodies from the baddies, then realising,
in surprise, that the goodies turn against them. The Americans so
annihilate these peoples' homes, communities, economies and spirits that
the goodies are driven to the side with the lesser aggression - enemies
of USA.
And so in business. People buy businesses that they feel
are badly run, thinking that a complete overhaul will transform loss
into profit, demise into regrowth.
Complete Overhauls That Turn customers Away
We've
all probably seen the scenario: Your favourite cafe - which is running
very profitably - is taken over and the new owner immediately changes
the name, tosses out all the furniture, redecorates the place, gets in
different staff, changes the suppliers... and then wonders why all the
many regulars quietly sidle off to the cafe over the road.
Or the
business takes off... for a while. After six months, the new owner is
struggling with the sense that there's an invisible plateau, a glass
ceiling, and whatever she does, profits won't go past a certain level.
So more radical changes are instituted and, mysteriously, things get
worse - profits drop, staff leave or lose motivation, customers drift
away - and, like the cancerous body, the business folds within the
(usually) two year span.
They say that when a bride enters the
church, she sees, first, the aisle, then the altar at the end of it and,
to the right, her intended husband. This image is imprinted in her mind
as, "Aisle altar him." From that moment she pours all her energy into
getting him to behave differently, to dress differently, to be
interested in different things and is then surprised when, some time
later, he becomes interested in another woman who accepts him as he is.
Yes, OK, men do it too - we can always find something wrong if we look
hard enough!
Start With Accepting (or loving) What's Already There
And
so the news of the day, my friend, is that if you're getting married to
a business, start by loving what you already see. If the business
before you is only attractive because of what you'll change about it, it
will probably spawn you, eventually. However, if you're able to see
beauty (and profit) from the start - even before you get your itchy
fingers on it - you're on to a winner.
You see, there is a theory
that every business has an "energy", a way of being. That way of being,
that basic shape, is breathed into it by whoever started it and it's
difficult to change. A bit like sailors who think it's bad luck to
change a boat's name. Of course, some people are able to transform bad
businesses into brilliant ones - it does happen but don't bet on it.
Much safer to find a business that you like and don't have to do much
to, initially.
And the 3 lessons in buying a business?
1. Get emotional
Your
emotions have their place - make sure that any business you buy is one
you have a deep interest in. You're going to be with your business for
longer, each day, than you're with your spouse and children so make sure
it's something you love doing.
There is nothing so heartbreaking
as to see a client who has bought a business that's struggling - a
business that he just can't be bothered making improvements on.
Depression and poverty and not good ways to end your business career.
If it ain't got that buzz, leave it alone.
2. Tell your emotions to go walkabout
So,
you've found a business that blows your hair back, that you will feel
passionate about for a long, long time. Your emotions have done their
job. Now tell them to take a hike.
It's now time for your calculator and independent advice.
As
an accountant and business coach, I cannot tell how many times I've
been contacted by people who have bought a business and then want advice
on buying a business. Ah, duh! Too late! And, you know why people
choose not to get independent advice... any advice, for that matter?
The
reason is they see a business they want to buy and they're emotionally
fired up by the thought of starting their own kingdom. They don't want
anyone - accountant, lawyer, best friend, Aunt Molly, anyone - telling
them it's not a good idea. They want it and they're going to get it.
There's a nagging voice in their head, telling them not to buy, but
their emotions are so in charge that they won't listen.
With
credit crunches and the consequent employment uncertainty, it's easy to
get fixated about buying a business to give you more security and
income. The SECRET is... sshhh, don't tell anyone... there will always
be other businesses for sale! This. Is. Not. The. Only. Business. For.
Sale. On. The. Planet. Panic slowly.