What is my best option for Offloading My Business: using Option Solving?

Only just the other day, your editor found himself talking with a business owner who was looking for a way to sell his business and retire. Because the owner hadn’t been the most astute business person, its likely value wouldn’t be as much as he hoped and therefore it was best for him to consider all his options.

At that point, your editor explained the Option Solving technique as a way of arriving at an optimal solution. This brought about the owner arriving at the rational question: “What is my optimum option for offloading my business over the next 18-24 months; considering 1) don’t desire to be leader anymore, 2) want to get an optimum payout, 3) there is a marginal staff team, and 4) it’s tough to attract high caliber professionals in our area?” You will see he picked out his top four considerations, from several others, so as not to overly complicate his decision making task.

The owner was then encouraged to create two yin and yang “bookends,” which would serve as his extreme possibilities. Such bookends would then help focus his intuitive, decision-making mind on his most realistic options. Bookends like these are vital for preventing people’s fertile intuitive minds from wandering and losing focus.

His chosen yin and yang bookends were: “Just let the business waste away” and “Refinance and rebuild optimal business;” both of which were the least likely possibilities, but at least they would instigate his mind to come-up with the most realistic options – see our Latest Worked Example.

Now he was exercised to develop at least five realistic options, so as to stretch his range of possibilities wherever possible. Your decision success is known to be more suspect with just two or few options.  You will see where he, in fact, produced five realistic options then actually came up with six. Feel free to review his six choices in our Latest Example, one of which was: “Option-F: Merge with another similar, local business.”

With his “pictogram” now created, he was now advised to set aside some time for emotional distancing – a form of objective thinking – before making his choice. Emotional distancing would allow his intuitive mind to sub-consciously review his range of options against so many of his similar life experiences and choices; thereby seeking an optimal solution. What option would you have chosen?

After due thought, he indicated that he would make his choice, after sleeping on it overnight, and would then consider  using “Peeling the Onion” technique to look for greater action insights.

If you have an example of your own, please share it with this blogger, through the COMMENTS area.  Thanks Option Solving. (NOTE: Next posting will be in two week’s time: “Peeling the Onion for: What is my optimum option for offloading my business over the next 18-24 months?” Let’s have your COMMENTS or go to peter@ileadershipsolutions.com to connect with the blogger. Also consider buying the book: “Smart Decisions: Goodbye Problems, Hello Options” through amazon.com)

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