Posts Tagged ‘cash’

Finding Money Under The Seat

Tuesday, October 23rd, 2018

Hidden Cash

If the owners of the eponymous London nightclub, Annabel’s, can rake in upto £1.2 million selling the old property’s tired fixtures and fittings, it is a great reminder in our own businesses to look under our own seats. What historic products, services or relationships do you possess and could you quickly re-purpose using different media for both your existing and prospective clients? Such that they receive tremendous value and a dramatic impact on their immediate goals with fair and equitable compensation for you. The hunt for the “hidden cash” demands two things: (1) Aptitude, you have the volition to regularly look for it and (2) Application, you possess the wisdom to apply it your buyers’ immediate and relevant business needs. Get searching!

Faux Collaboration

Tuesday, February 20th, 2018

Most conceptual conversations around collaboration, internal or external, are a huge waste of time, yet daily I see  clients, prospects and business partners spending endless hours doing just that. Here is the key questions to ask yourself: Is there real business with real money at stake? Is it mutually-attractive in our immediate future? Is there the requisite commitment on both sides to convert it into cash quickly? If you don’t have a definitive “Yes” to all three questions, stop right now.

I have created over 75 collaborations in support of my firms’ business growth, and hundreds for large and small clients in 15 sectors and in 91 countries in my near 30 year career. Yet only handful really endure for any significant length of time or develop beyond a very specific need.

© James Berkeley 2018. All Rights Reserved.

Bring Something Meaningful

Wednesday, March 29th, 2017

 

I get approached at a minimum, by 3 people a week proposing some form of “collaboration”. Most commonly, other advisers, entrepreneurs, co-investors and bankers trying to access my investor or client communities and their capital, people or innovation. In most cases, they are decent people with a genuine request, who have been a success in their corporate careers. In their latest entrepreneurial incarnation, they have “capped” out their personal networks and/or they are unable to accomplish their goals without external assistance. Their “well” is running dry and they want me to share my water. They are largely offering symbolic (greater presence or a share of faux-success fees), not meaningful value (a powerful brand or actual cash).

I am a huge believer in collaboration as a powerful form of leverage. However, first, it needs to pass my litmus test:

  1. Combined, there is a scarcity and dramatically enhanced value that will significantly impact the speed and quality of my client acquisition prospects.
  2. There is an attractive short-term business opportunity of mutual interest (potential client, visible need with a strong fit and ease of implementation).
  3. I can and definitely want to help after considering prudent risk and potential reward.

I’d suggest I am not alone if you think about the quantum of conceptual collaborative discussions that you are presented with. Do you possess these simple questions, to reach a fast conclusion or do you allow multiple meetings and information exchanges to follow before reaching a conclusion?

Above all, is the other party bringing something meaningful? Yes or No.

Nothing more is required.

© James Berkeley 2017. All Rights Reserved.