Start. Scale. Sell.
74 Pages
English

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Start. Scale. Sell.

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Gain access to the library to view online
Learn more
74 Pages
English

You can change the print size of this book

Description

A practical, accessible guide to the three main life stages of a business that most entrepreneurs will experience

Whatever you’re
going through with your business, and whatever stage you’re at, this book can
help. Entrepreneur Nick Suckley has built four start-ups and managed three
exits over the last 20 years, through good and bad economic times and all the
ups and downs, the challenges and joys, of being your own boss.

He’s distilled his
many years’ experience – good and bad – into these 75 life-lessons for starting,
growing and selling companies.


Start. Scale. Sell. will help you
navigate your journey as a business owner.
Discover:

·     
the importance of acting like an entrepreneur – even before you take the
plunge;


·     
the simple Golden Rule for maximising profits


·     
why investing in yourself and your own learning is so crucial


·     
how to hustle and when to pivot


·     
the secrets to building a strong brand


and much more.


These bite-sized
lessons offer accessible, no-nonsense advice for even the most time-poor
entrepreneur. It’s a blueprint for business success from an author who has been
there, done it and has several T-shirts to prove it.


Nick Suckley is a
successful serial entrepreneur with the battle scars to prove it. Now you can
take advantage of the lessons he learnt the hard way.


Part 1 Lessons on how to get
started


Lesson 1: The Founder’s
Mindset. Treat yourself as self-employed even if you have a job.


Lesson 2: It’s all
about spotting the opportunity. Is there a market for what you are doing?


Lesson 3: Don’t
underestimate how long it will take. Use the time from idea to execution
wisely.


Lesson 4: Take time
with your business plan. You won’t think of everything but it will help.


Lesson 5: The Six-Month
effect. Hope for the best and plan for the worst.


Lesson 6: Banks –
beware


Lesson 7: Look after
your business by looking after yourself


Lesson 8: How hard do I
need to work? Have I earned my money today?


Lesson 9: Push versus
pull factors in getting started


Lesson 10: Get real
about where your sales will come from


Lesson 11: Having
little to lose in the early days means you can be ballsy. Don’t underestimate
the power of offering an outside view.


Lesson 12: Making money
while you sleep


Lesson 13: Raising
external investment: beware the pitfalls


Lesson 14: Company
valuations: getting to your first £1 million – and beyond


 


Part
2. Lessons for the growth phase


Lesson 15: Sweat
equity:  you can only sell shares in your
company once, so be smart about how much you trade, and for what


Lesson 16: Just do it


Lesson 17: Walk the
walk #1:  establish your company values


Lesson 18: Walk the
walk #2:  decide what will you stand for


Lesson 19: Get your
shareholdings right and adjust them if need be. It will avoid more serious
problems down the line.


Lesson 20: Understand
how you make money. Get your finances in order


Lesson 21: Why
productivity matters


Lesson 22: Manage your
cash as if your life depends on it


Lesson 23: Why every
company needs a war chest


Lesson 24: Hustling for
growth. Why you should ask for business...but you can’t hustle for ever


Lesson 25: Don’t be
afraid to pivot. Especially if it is better for your customers


Lesson 26: It’s not all
glory scaling a business. Be prepared to roll up your sleeves


Lesson 27: How to build
successful joint ventures


Lesson 28: Growth
phase: building a money-making machine


 


SCALE


Part
3: Lessons for Scaling Up: The Coming of Age phase


Lesson 29: Perception
is reality #1: how an office move can re-invigorate growth


Lesson 30: Perception
is reality #2: your brand is far more important than you realise


Lesson 31: Do you
really need a non-executive board? Or should you be looking elsewhere?


Lesson 32: Everyone
needs an elevator pitch. Here’s how to write one.


Lesson 33: Insight can
be an effective way to engage with potential customers


Lesson 34:  Get the right management information and use
it to inform your decision making


Lesson 35: How building
a coaching culture can help you avoid problems before they become critical


Lesson: 36: Red Team
can help you make better decisions


Lesson 37: Remove the
temptation for fraud wherever you can


Lesson 38: The resource
trap: how to ensure you have the right resource in the right places.


Lesson 39:
Diversification:  take care when
launching or investing in other businesses


Lesson 40: Pick your
battles: when to let a legal challenge go


Lesson 41: The downside
of a successful JV


Lesson 42: Building
technology? Understand what you’re getting into, and the skills you’ll need


Lesson 43:
Opportunistic approaches versus a planned exit. When should you start thinking
(seriously) about an exit?


 


Part
4: Lessons for Scaling Up: Surviving tough times


Lesson 44: Showtime


Lesson 45: Be brutally
realistic about how much business is on the horizon


Lesson 46: Bite the
bullet – sometimes redundancies are better than endless uncertainty


Lesson 47: Never make a
loss. It means you will never lose control


Lesson 48: Use the
Power of Three to maintain focus and direction


Lesson 49: Every
downturn is different. Sometimes you just need to sit it out 


Lesson 50: The
Importance of investing in yourself. Why lifelong learning is important


Lesson 51: Don’t
agonise over rates of staff turnover. Employees are more mobile than ever and
people are going to leave


Lesson 52: Stronger
marketing will bring more sales and help you survive a downturn.


Lesson 53: How to
identify and avoid poor performing sales people


Lesson 54: Hire slow
and fire fast


 


Part 5:
Lessons for Scaling Up: Building Scale for Sale


Lesson 55: Your role as
CEO


Lesson 56: The
importance of scale: getting to £1m profit


Lesson 57: Why
founder-shareholder alignment is critical


Lesson 58: Boosting
profitability: use the right tools


Lesson 59: Ramping up marketing and sales: have clear
product pitches and marketing messages - and use them


Lesson 60: Build a
high-performance team – and be ready to give them the autonomy they need to
make a difference


Lesson
61: Getting sale ready – plan ahead and give yourself 12 to 18 months.


 


SELL


Part 6:
Lessons for Selling Up


Lesson 62: Don’t allow
a well meaning buyer distract you from the job you need to do post sale  .


Lesson 63: Timing and
the economic cycle; the impact on deal structure 


Lesson 64: Don’t let
your emotions get in the way of the right deal – focus on the bigger picture
and don’t fixate on small details.


Lesson 65: The right
advisor can help you reach the widest audience of potential buyers. Beware
doing it yourself.


Lesson 66: Your
Investor Memorandum is your shop window. Spend time getting it right; you can
only sell your company once.


Lesson 67: Meet as wide
a range of suitors as you can. Demand can come from interesting places you
hadn’t previously considered.


Lesson 68: Think beyond
the deal. Do not ignore the fact that you will be living with what comes after
the transaction


Lesson 69: Don’t be
afraid to walk away from a bad deal – even if it is from an appealing buyer


Lesson 70: Don’t be
afraid to pause the whole process if need be. It’s emotionally tough but the
right deal will come along eventually


Lesson 71: Deal
structures and securing a premium


Lesson 72:  The deal that is right for the company may
not be right for all the individuals concerned


Lesson 73: Anticipate
due diligence – and prepare for it to be a full-time job when the time comes


Lesson 74: Keep lawyers
in their place. They can easily derail a deal


Lesson 75: Think about
what happens post-sale

Subjects

Informations

Published by
Published 30 July 2020
Reads 0
EAN13 9781788601856
Language English
Document size 3 MB

Legal information: rental price per page 0.0022€. This information is given for information only in accordance with current legislation.

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