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Emma Selby *Flexspace Operator* posted an update
Heard a great question in a podcast this morning (anyone else listen to Diary of a CEO?)
Instead of asking this question: how can I build a million pound business (or billion pound business if thats your thing ) ask how can I build a business that I WOULD NOT sell for a million or even a billion pounds?
What would you do differently ?
Mark Alcock and Gareth Turner3 Comments-
Perhaps the answer is to set it up as an entity that can include a means of helping those with limited resources. It could still generate revenue in the conventional way but the “not-for-profit” side of the operation clearly discourages acquisition by third parties with sub-optimally aligned motives. I don’t know all the legal implications but can’t think of any charities that have been acquired and asset-stripped by venture capitalists or oligarchs. In other words, if you think you might struggle to turn down an unrefusable offer, create something which is un-buyable. Another technique is to shroud the ownership of any intellectual property in mystery. You may wonder whether Business Game Ltd. is adopting such practices. I couldn’t POSSIBLY comment!
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@DougHolman I think having a purpose beyond money is essential for any company. An interesting point about charities being asset stripped – it’s my understanding that charities can’t be bought and sold, and any assets have to be transferred for charitable use. A company having a charitable arm (a hybrid model) like a CIC would serve the purpose and happiness factor of the commercial operation – but wouldn’t be the choice of someone looking for a billion £££ exit
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I agree. The goal should definitely be to create a company that you love to work in, and also perhaps more importantly everyone else (your team but also suppliers and customers …)
I would love to believe that if you just do that the money will follow but business isn’t that simple!
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