Business Growth Solutions to Help You Play With the Big Boys
There aren’t many consultants helping owners of small to mid-sized businesses understand the business growth solutions of the big boys in the printing and converting industries. And that needs to change.
What kind of growth solutions am I referring to? I’m talking about the strategic transitions like mergers and acquisitions, executive recruiting, international alliances – the kind of big business maneuvers occurring every day with the top players.
I know many business brokers and consultants in the game simply don’t want to help owners understand the strategies. Why? Because for the time it takes to help a small to mid-sized business conduct and complete a strategic transition, the amount of commission on the deal is simply too small to make it worth their while.
Brokers and consultants pass on helping owners use these strategic transitions to their advantage. As a result, printing and converting owners fail to take advantage of growth opportunities normally reserved for the high flyers of the industry.
But it doesn't have to be that way. All it takes is a willingness to learn, and a desire to succeed.
Growth Opportunities for Printing and Converting Owners
There are growth solutions for your business – ones that may surprise you. Try these 5 growth-based strategic transitions on for size:
Sell your business to a synergistic buyer. Who in the world would want to buy your shop? That depends on what you have to offer. There are a number of investors who are looking for the right people, the right equipment, the right opportunities. Evaluate your assets, and find someone with the connections to investors: You may be surprised at what you find.
Find capital to invest in the future. Believe it or not, there are lenders eager to help you invest in the future. You must have a good plan in place, but cash is more plentiful than you think.
Work with a strategic partner. Let’s say you’re an established printer with a great business sense and a solid infrastructure. Now get introduced to a young entrepreneur eager to expand his wide-format digital printing business. Those types of opportunities are plentiful – you just need to know how to make it happen.
Improve your talent. How about giving your business a complete makeover? Recruit the right talent and magical things can happen.
Implement a strategic acquisition. It works for the big boys, why not you? Instead of partnering with that hotshot wide-format digital printer, why not buy him? Those big-league strategic transitions may not be as unattainable as you think.
These growth strategies can work for you, but only if you have that desire to grow your business. Curiousity may have killed the cat, but it's also launched it's fair share of fat cats too.
In the coming months, we'll focus on explaining these business growth solutions to you. Whether you pursue them on your own, or work with a strategic transition team, there's no reason why you can't utilize them to spur growth in 2014.
Rock LaManna is the President and CEO of the LaManna Alliance. The LaManna Alliance helps printing owners and CEOs use their company financials to prioritize and choose the proper strategic transition – including mergers, acquisitions, organic growth, and exit / succession plans.