Mr. Richard Parker is the author of the “How To Buy A Good Business At A Great Price” series which is sold in over 80 countries. He is the founder of Diomo Corporation and has personally purchased eleven businesses. Learn more about Richard and his materials at diomo.com (www.diomo.com)
It’s amazing how we see an immediate increase in our business right after the December holidays and the day after every long weekend. The former may be many “New Year’s Resolutioners” as I call them, and the latter is because most people dread the thought of going back to their job after an extended weekend. So, let’s pretend it’s the holidays right now, and sing to yourself: “All I Want for Christmas is a business of my own…”
If you have any desire to be in business for yourself, then now’s the time to make your move! In fact, there has never been a better time to take that step. So this year, buy yourself the greatest gift of all – a business of your own!
Continue reading The Best Gift You Can Ever Buy For Yourself: A Business of Your Own!
To survive, grow, and remain profitable, your company must develop effective Growth Models (strategies and action plans) at specific points in time incorporating each of the issues listed below,
- resource acquisition
- resource allocation
- work flow
- human relations
- technical mastery
- market strategy, and the Internet
- Social Media
- public relations
- Financial / Cash-flow Management
Regardless of your company’s stage of development (infancy or maturity) or its market niche you must incorporate the above issues in to your operating plans and culture. And remember that the performance of the company is a multiplicative result of the above functions not an arithmetic sum!
Continue reading Growth Strategy / Business Models-a brief comment
I write about two of the factors I consider central to successful growth and I used to build JPIndustries (JPI) in to A Fortune 500 Corporation at a time of economic recession, high interest rates and an exodus of manufacturing operations from the mid west: synergy and homogeneity.
You are probably saying to yourselves that synergy was a concept of the 1960’s which was not notably and successfully employed by the conglomerates which coined it, and that homogeneity reminds you more of processing milk than of conducting business.
But these words, synergy and homogeneity are Creek. And I of Greek origin. I believe that understood and applied correctly, the concepts expressed by these words have clear practical meanings and direct application to business growth.
Synergy comes from the Greek synergia, meaning “working together”. From the same root we have synergism, which means cooperative action of separate agencies such that the total effect is greater than the sum of the effects taken independently. This is the basis for the famous 2+2=5 definition of synergy promoted as the strategy of the conglomerates of the 1960’s.
I would propose to you that in the 1960’s the term synergy was poorly understood and in many cases poorly applied. That is the fault not of the concept, but of its utilization. And I would further propose that, correctly understood and applied the concept of synergy works.
Continue reading AN OPERATING CORPORATE GROWTH STRATEGY: Building a Fortune 500 Manufacturing Business (7th article in the series on M&A)