If you listened to our podcast this week - you already know about our MasterYclass program. We have a new class starting this month - and I want you to seriously consider joining it!
As a business owner, we all come to a fork in the road, a “Y” in the road, and we have to decide every day, which way to go. As a business owner, this happens all the time. You have to decide which way is best for you and your business, your employees, and your customers. Look, I've been there. I understand what it takes in order to make those decisions.
Every Business on the Planet will Eventually Transition
The decisions you make today affect the future of your business. It affects your value tomorrow. I realize that the “value payday” may seem like a long way off, but let’s face it - every business on the planet will eventually transition. What you do now matters when it comes to being ready to transition your business.
Will you be ready? Will you be able to get the maximum value for your business?
The Odds are Against You
83% of attempted business transitions fail to reach the finish line. That's right. Only one in six businesses that actually wants to transition reaches the goal. Stated another way, only 17% of business owners will be able to transition on their terms. We're out to fix that!
I know what you're thinking - “that won't happen to me.” So let's explore the top three reasons businesses fail to transition on their terms.
First, some businesses are just completely unprepared for transition. For most business owners, this is a once in a lifetime opportunity, but they haven't given much thought to what it takes to prepare their business for that eventual transition. And frankly, there are a few resources available to them when it comes to learning how to transition a business.
Second is unrealistic expectations of enterprise value. This is the number one deal killer. Most business owners don't really understand the value of their business and therefore have an unrealistic expectation based on emotion rather than facts.
Finally, the third reason that businesses don't transition is that there's no strategy in place. Did you know that 72% of business owners have no exit strategy at all. And 48% of business owners who want to sell their businesses right now have no exit strategy. That’s kind of like running a race without a finish line! You just keep running and running and running and there's never an end in sight.
That’s Why We Created the MasterYclass!
Of course, that just sounds ridiculous, but that's exactly what so many business owners do. They start a business and quickly get second to the day-to-day operation of the business and never take the time to develop a clear well-defined exit strategy.
The Maximize Business Value MasterYclass can help you maximize the value of your business.
Merely knowing the right things to do is just not good enough. We want you to be in the 17% club - the fraternity of business owners who have successfully transitioned their business. But to get there, you’ll have to work at it much earlier than most business owners think.
Our MBV MasterYclass is a 12-month program that provides a step-by-step process to evaluate your business and identify ways to dramatically improve business value.
How the MasterYclass Works
Here's what you can expect. We'll meet once a month in a virtual masterclass where you'll be part of a peer group with like-minded business owners. You'll have a monthly one-on-one with me to dive deeper into your specific business. We'll build your leadership toolbox with lessons that you can apply in your business for immediate results. And, you'll have access to our trusted network of advisors to help you every step of the way.
In each of the monthly MasterYclasses, we'll meet virtually as a group, and we'll break that meeting into three sections. First, you'll get to know your fellow classmates and we'll build that peer group community together to support one another in our businesses. Second, we'll work through our signature Transition Readiness Assessment to evaluate your business. And finally, you'll add lessons to your leadership toolbox that you can put to use immediately in your business. By the end of the class, you'll have a complete assessment for your business department by department, and you'll know exactly how your business is doing.
The Leadership Toolbox lessons will include things like:
Productivity on Steroids - including the Ivy Lee method for peak performance, NET time savers, intentional procrastination, and taking massive action every day
Financial Tools - including budgeting, cash flow modeling, and key performance indicators
Operating Tools - like the Culture Index, the Entrepreneurial Operating System (EOS) as detailed by Gino Wickman in his book, Traction, and driving innovation in your business
Growth Tools - including Story Branding and sales growth strategies
Life Tools - including the Green Box exercise
In addition to the monthly group lessons, you'll also get a one-on-one with me where we'll dive deeper into the issues that are currently impacting your business. We'll talk about how to apply each of the monthly lessons in your business and think of it as coaching tailored for you and your business.
Look, there are thousands of peer groups, masterminds, and masterclasses that you could join. And frankly, if you join any one of them, they'll probably be great for your business, but we hope you'll consider joining us in the mastery class, because this program is all about driving ridiculous results, educating business owners, creating massive value for business, and teaching our success formula. At the end, you'll understand what your business is worth today and the things you need to do to take it to the next level.
Call to Action:
What you do now matters when it comes to the future value of your business! Let's make 2022 count. Join our MasterYclass today. (Use the discount code 2022 at checkout for a 22% discount!)
If you still need additional information - just go to our website and click the button to schedule a call with me. And remember, we’re here to help. If we can help you in any way don’t hesitate to reach out!
ABOUT THE AUTHOR
Tom Bronson is the founder and President of Mastery Partners, a company that helps business owners maximize business value, design exit strategy, and transition their business on their terms. Mastery utilizes proven techniques and strategies that dramatically improve business value that was developed during Tom’s career 100 business transactions as either a business buyer or seller. As a business owner himself, he has been in your situation a hundred times, and he knows what it takes to craft the right strategy. Bronson is passionate about helping business owners and has the experience to do it. Want to chat more or think Tom can help you? Reach out at tom@masterypartners.com or check out his book, Maximize Business Value, Begin with The Exit in Mind (2020).
Mastery Partners, where our mission is to equip business owners to Maximize Business Value so they can transition their business on their terms. Our mission was born from the lessons we’ve learned from over 100 business transactions, which fuels our desire to share our experiences and wisdom so you can succeed.