Sorry, I Have Been Missing In Action

I Have Not Been In My Seat!

It has been a little gap of time since I last posted a blog.  Sorry for the gap.

I have been consumed using my time chips for closing the sale of the one business I mentioned in an earlier blog, "3 Snaps, 2 Crackles and 1 Pop."  Time has become a premium.  We needed to interview and select a lawyer to represent us in the completion process of this sale.  As one might expect, that took a good deal of time.

Since selecting the appropriate lawyer to represent the sale of the business assets many new tasks and duties began to fly out of the wood work!  When a positive sale of this nature begins, delays are not a favorable contribution to the sale.  The sooner the sale is completed, the sooner the results become secured as they were originally offered.  This philosophy leads to the need to use all time chips available for working to complete the sale process.  The business sale becomes the prime source for time chip use.

As it stands, so far...so good!

Please, Do Not Raise The Amount Of The Sale!

I have a moment to share some favorable news about the sale of this business.  First of all, the sale included two suitors.  One of the suitors had the Right of First Refusal, http://en.wikipedia.org/wiki/Right_of_first_refusal.  This process had its moments, but after three "cause and effect" bid proposals submitted by the second buyer, the first suitor eventually backed out of the deal.  Appropriate documents were completed and signed.  The current stage of procedures includes the final preparation of the purchase plan and the final approval of the parties voting to secure the deal.

As you might expect, a good deal of paper volume has been generated.  In addition to the increase in paper preparations, search and data gathering has multiplied.  The coming 60 days will be filled with title searching, escrow establishments, finalizing the current debtors data and preparing the transition for continued employment plans for existing staff as they transition into the fold of the new owners.  The CEO of the buyer and myself have developed a very good sense of respect for making this transition work as smoothly as possible.  I have enjoyed the past two weeks working with him.  He has asked me to stay aboard to help him manage the resource transitions.  Both the buyer and our business include the dependence of generating retail incomes as a good portion of their models.  We all recognize how important maintaining retail staff enthusiasm becomes in a transition of this nature.  We are both working well to secure and achieve that idea.

Selling Is All About Being Positive!

I will be consumed a bit more with the finalization of this sale process.  I will share some of the efforts and discoveries as I find time to permit.  I have experienced many great lessons to share from this event.  For those who have traveled this road before, you can provide great testimony to the common surprises.  Fortunately, we have not collided with large enough surprises to spin us out.

In the end, we welcome all challenges and work to provide all efforts to overcome them.  It appears as though the sale may be completed somewhere near the end of the year or early in the new year!  Some projects like this may seem to take a long time.  However, they do not.  The time will move along very quickly.  Just about the time we think steps are taking too long, it is all over with and completed.  I sometimes wonder how we fit it all in! 

As it stands for now, I consider all of the work we are doing a process of work only.  When the check clears, I will consider it a sale.

Until next time....