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Recipe for Success: Why a Master Chef makes a better meal than you using the same recipe

by on September 24, 2014

Recipe for SuccessI enjoy cooking.  I’m not great but I’m decent.

I didn’t used to be even decent.

When we were first starting our family my wife did all the cooking.  She had it tough – limited time, very limited budget, and schedules to juggle.

F0r the record, she is a much better cook than I am.

But our roles eventually changed.  I got a position that allowed me to work some of the time from home and my wife took a position that required her to work at times when the people that need her service weren’t working.  So she worked evenings.

For self-preservation reasons I started cooking – planning the meals, doing the shopping, the prep work, plus the cooking.

In the beginning it was what I called “Attitude Cooking.”  I would have a glass of wine, put on some music, and make it fun.

My planning entailed picking out a recipe that seemed enticing.  I experimented.  My wife was eating food she would never have thought to prepare.  Her tastes lean towards savory while mine lean toward spicy.

In the beginning I followed the recipe (the steps in the process), exactly as they were written.

The food turned out okay but not great.  And there was always some challenge to the recipe.  It was missing a step, or some aspect wasn’t well described.  Or it added an ingredient I didn’t like.

I had to “personalize” the recipe.  I sometimes do the steps out of order according to the recipe because it’s easier for me.

And if I was doing more than one recipe at a time – oh my, I had another challenge!  A meal is generally more than one dish, though I am a big fan of “one-dish-wonders”, so the timing wasn’t important just for that one recipe but for several items.

In time I developed a sense of timing, arguably the most important skill in delivering a meal – having everything come out on time together.

I became good enough that my daughter suggested, jokingly, that I do a cooking show like Anthony Bourdain.  I replied, “there is no way anyone wants to watch a man cooking from a recipe.”

You see, I haven’t mastered cooking to the point where I truly understand how everything goes together.  I can read the steps and implement them, but they aren’t innate to me yet.

What does any of this have to do with building valuation?

There are steps in building a company that are the same for everyone in every industry.  There is a recipe for building a company.  There are certainly a lot of books about it.  But applying it to your specific situation and circumstances requires the touch of a Master Chef.

– When you implement those steps do you have a sense of timing?

– For your situation, which steps should be done first?

– Do you know what the company is supposed to look like when you’re done with your work?

– How will you know if you’re successful in implementing any step in the recipe to building value?

A Master Chef knows what’s NOT in the recipe

You can follow a recipe but a Master Chef or someone who has built companies across multiple industries  has the knowledge that isn’t in any book or recipe.

By working with a Master Chef you can get to your magic number faster and avoid the pitfalls along the way.

It seems easy to some people for a reason.  That’s because they’ve already had problems and worked through them.

If you’re looking to be acquired for a premium a Master Chef can help you become the first choice of your ideal buyer.

If you’re looking to raise capital a Master Chef can position you to command a high valuation resulting in minimal dilution.

Building a company is like preparing a meal.  There is a process and the best meals are prepared by the people who have mastered that process.

p.s.

If you’re wondering how you build a company that you can sell for a premium in a few years, contact me to discuss the Valuation Amplification Process.

I also invite you to download the white paper and learn the 5 step process on How to Quickly Increase Your Valuation: a Proven 5 Step Process.  http://www.therevenuegroup.net/free-offer.html

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From → Strategy, Valuation

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