As a business owner, you know how tough ownership is in today’s world. Things are changing in every category, and we have challenges from places we’ve never seen before. Now add in the process of buying another company, putting your business on the market or merging, or just plain growing. Definitely complex, and this is why owners bring in LaManna Consulting Group.
Working on any of these three initiatives is practically a second full-time job for owners – on top of their regular duties. Now think about trying to grow before you sell to maximize your selling price. It makes perfect sense, but it takes planning, discipline, experience, and time.
I try to find new ways to help owners in the graphic arts industry understand what it takes. In this month’s column for Label and Narrow Web magazine, I talk about the components of preparing for the mental game of buy-sell-grow: deals, flow, growth, strategy, and the insider view of how to buy and sell a printing company.
Here’s an excerpt from this month’s column:
In my newly-published book, They Named You Right, I talk about the roots of my fascination with the game of chess, and how it relates to the mental game of running, growing, and selling businesses in the graphic arts industry.
Even if you don’t play chess, I’m sure you’re familiar enough with the game to see how there are valuable business lessons that can be learned.
My knowledge and love of chess definitely helps me in the deal flow arena: strategy, power moves, going head-to-head with your competition, planning scenarios many moves ahead but always being aware of how things change with each move, learning to read your opponent’s signals, and much more.
Clients tell me they are surprised by the long game of selling a business. Like chess, it requires pacing, focus, and stamina.
Read the full article, Preparing for the Mental Game of Buy-Sell-Grow. This is the first article in my 2023 series. We’ll start with the mental game, and then we’ll delve into the roles and responsibilities of the owner in today’s world – with strategic growth and profitability always in mind. Subscribe to my blog to receive publication notifications and never miss a blog post.