Potential buyers may be tempted to reduce their offering if they must make a significant investment to upgrade the technology and train the staff to get the company to a competitive level. Before putting your business on the market, you should do the necessary research, purchase the right technology, train your people to use it, be aware of any changes and maintain the appropriate level of knowledge, throughout your company, to keep the company on par with its industry, following the Networlding principles:
The Internet appears set to subsume consumer electronics, broadcast, wireline and wireless, communications enabling seamless anytime anywhere experiences. Consumers, customers, & enterprises are embracing this change and are interacting and sharing knowledge and experiences with one another in new ways in near real-time. There is growing awareness that they have the means to connect with one another through the Internet, the Mobile Cloud, and Social Media technologies. They are increasingly participating in converged “physical” and “virtual” worlds, accessing, creating and sharing information and knowledge in a Digital Life.
Everything is interconnected, and every industry and technology are interconnecting, from construction, mining, petroleum to medical centres/doctors, operating rooms and everything you touch in communicating today. So, this is what we call the democratisation of information. The convergence of technologies and some of the new technologies have impacted the world significantly around us and things that you take for granted as being modern today, will evolve or cease to exist, not in 50 years but the next 5 to 10 years.
The convergence of technology is a planned and sustainable evolution by the major public companies in the high-tech world. Google, Amazon and Microsoft entered the market to have a position in the media/data development and push it, attracting consumers toward its products, which will soon move from software to cloud-ware, money movement, media streaming, data mining and targeted marketing. To keep up to date with the evolution of what we call the internet today, that will soon to be better known as the GRID, you should understand the shifts it imposed to the global, political and societal world, the business and economic model and people behaviours.
We observed that knowledge sharing and better collaboration improve employees’ flexibility and autonomy and contribute to better company performance.
A recent Human Resources survey shows that organisations that outperform direct competitors in their respective industries in areas such as growth in market share, profit growth, and employee satisfaction have an integrated and company-wide approach to greater employee connectedness. Employees engage with each other, with stakeholders, shareholders and customers, and with information, knowledge, and ideas removing functional or product silos, geographies or company boundaries.
High-performing companies create an environment of connectivity by:
In an environment of trust, employees do not hesitate to share their mistakes and failures, enabling the entire organisation to learn and innovate.
A clearly articulated well-communicated vision links workplace design with the objectives of the organisation and allows cross-functional digital workplace leadership teams, with representation from key departments (most notably IT, HR, facilities, legal and communication) to deliver profitable growth by attracting customer loyalty.
Such responsive leadership is essential in getting full value from the digital workspace but can only be achieved by putting a lot of trust in employees which constitute a huge motivational force. It’s a win-win scenario for all stakeholders and customers.
To enhance the value of their companies business owners should invest in the digital workplace and provide employees with the tools, trust and confidence to outperform the competition.
How much do my managers trust their employees?
Do my managers allow their employees to work anywhere, at any time?
Do my managers give their employees the freedom to make decisions or allow them to make mistakes in search of improved performance?
If they answer ‘yes’ to these questions, it is quite likely that their organisation offers employees autonomy to make a success of the digital workplace and with it will come to a highly valuable organisation.
When selling their company a business owner should have in mind what a potential buyer would be interested to find out:
Would the business still be functional in the next 10 years?
Is the organisation protected from data breach?
Has the company trained or hired professionals to drive its digital marketing?
Are the team and the owner discussing marketing efforts/changes weekly?
Does the firm have, at board level, a professional able to envisage the necessary changes the business requires to coping with convergence in technologies, the internet of things and future changes in marketing and technology?
Is the company seeking advice from a legal counsel with the ability to help considering these changes?
Business owners who are not able to demonstrate that the above is in place should be ready to accept a lesser amount of money for their business.
Can your business survive without you?
If you wish to build up the value of your business and would want to explore what you could do to make it sellable, please do not hesitate to call Jean-Bertrand de Lartigue on +44 1656 766 363 or email him, firstname.lastname@example.org