• Login
    • Join
  • Subscribe Free
    • Magazine
    • eNewsletter
    Checkout
    • Magazine
    • News
    • Exclusives
    • Labels & Packaging
    • Markets
    • Technology
    • Equipment
    • Supplies
    • Buyers' Guide
    • Events
    • Jobs
    • More
  • Magazine
  • News
  • Exclusives
  • Labels & Packaging
  • Markets
  • Technology
  • Equipment
  • Supplies
  • Buyers' Guide
  • Events
  • Jobs
  • Current / Back Issues
    Features
    Editorial
    Columns
    Digital Edition
    eNewsletter Archive
    Our Team
    Subscribe Now
    Advertise Now
    Top Features
    Dscoop Post-Show Coverage

    Slitter-Rewinders

    Craft Beer Labels

    Pharmaceutical Labels

    Luminer Converting Group: Narrow Web Profile
    Breaking News
    Converter News
    European Label News
    Industry News
    Industry People
    M&A News
    New Products
    Expert's Opinion
    Live From Shows
    Top News
    Avery Dennison announces Core Series Portfolio Tape Selector App

    HP Indigo reaches 2,000th active install milestone

    Brook + Whittle's new acquisition, SunDance goes to HP and more

    Specialty announces move to new facility

    Mark Andy hosts dealer's open house in Warsaw
    Blog
    Video Bites
    Beauty & Personal Care Labels
    Beer Labels
    Beverage Labels
    Flexible Packaging
    Folding Carton
    Food Labels
    Glue-Applied
    In-Mold
    Industrial Labels
    Medical Labels
    Pharmaceutical Labels
    Pressure Sensitive
    Prime Labels
    Promotional Labels
    Security Labels
    Shrink
    Smart Labels
    Specialty Labels
    Spirits Labels
    Wine Labels

    Avery Dennison announces Core Series Portfolio Tape Selector App

    Brook + Whittle's new acquisition, SunDance goes to HP and more

    World’s first tequila in a cardboard bottle

    In-Mold Decorating Association announces 2022 IMDA Awards Competition

    Five approaches for more sustainable beauty packaging
    Africa
    Asia
    Australia
    China
    Europe
    India
    Latin America
    Middle East
    North America

    Specialty announces move to new facility

    Mark Andy hosts dealer's open house in Warsaw

    Kingfisher Labels adds 10th Edale press

    Dantex Group receives accreditation for Pico digital presses

    Heidelberg USA launches new Print Media Performance & Training Center
    Flexography
    Digital Printing
    Prepress
    Finishing
    Sustainability

    HP Indigo reaches 2,000th active install milestone

    Mark Andy hosts dealer's open house in Warsaw

    Kingfisher Labels adds 10th Edale press

    Dantex Group receives accreditation for Pico digital presses

    World’s first tequila in a cardboard bottle
    Digital Printers & Presses
    Flexo Presses
    Label Converting Equipment
    Label Finishing Equipment
    Prepress Equipment

    HP Indigo reaches 2,000th active install milestone

    Mark Andy hosts dealer's open house in Warsaw

    Kingfisher Labels adds 10th Edale press

    Dantex Group receives accreditation for Pico digital presses

    EyeC unveils revamped website
    Dies And Tooling
    Flexo Supplies
    Ink & Coatings
    Prepress Supplies
    Pressrooom Supplies
    Substrates

    Avery Dennison announces Core Series Portfolio Tape Selector App

    Nazdar celebrates 100th anniversary with refreshed brand identity

    Avery Dennison announces Global Supplier Award winners

    In 2040 a fifth of all food packaging could still be landfilled or incinerated

    Nazdar to manufacture VFP electronic ink for US Market
    All Companies
    Categories
    Company Profiles
    Label Converters
    Trade Associations
    Add New Company
    International Buyers Guide Companies
    NarrowWebExchange.com, LLC

    Lemu Group North America

    Delta ModTech

    Martin Automatic Inc.

    Heidelberg USA
    Industry Events
    Webinars
    Live from Show Events
    • Magazine
      • Current & Past Issues
      • Features
      • Editorial
      • Columns
      • Digital Edition
      • eNewsletter Archive
      • Subscribe Now
      • Advertise Now
    • Breaking News
    • Buyers' Guide
      • All Companies
      • Categories
      • Company Profiles
      • Label Converters
      • Trade Associations
      • Add Your Company
    • Labels & Packaging
      • Beauty & Personal Care Labels
      • Beer Labels
      • Beverage Labels
      • Flexible Packaging
      • Folding Carton
      • Food Labels
      • Glue-Applied
      • In-Mold
      • Industrial Labels
      • Medical Labels
      • Pharmaceuticals Labels
      • Pressure Sensitive
      • Prime Labels
      • Promotional Labels
      • Security Labels
      • Shrink
      • Smart Labels
      • Speciality Labels
      • Spirits Labels
      • Wine Tables
    • Markets
      • Africa
      • Asia
      • Australia
      • China
      • Europe
      • India
      • Latin America
      • Middle East
      • North America
    • Equipment
      • Digital Printers & Presses
      • Flexo Presses
      • Label Converting Equipment
      • Label Fishing Equipment
    • Supplies
      • Dies And Tooling
      • Flexo Supplies
      • Ink & Coatings
      • Prepress Supplies
      • Substrates
      • Pressrooom Supplies
    • Online Exclusives
    • Slideshows
    • Experts Opinions
    • Videos
    • Podcasts
    • Infographics
    • Blog
    • Whitepapers
    • Events
      • Industry Events
      • Live from Show Events
      • Webinars
    • Jobs
    • Resources
      • Supplier Gallery
      • Literature Showcase
      • Homepage Showcase
    • About Us
      • About Us
      • Contact Us
      • Advertise With Us
      • Privacy Policy
      • Terms of Use
    Columns

    Earning the heart of a horse

    ...

    Earning the heart of a horse
    Earning the heart of a horse
    Related CONTENT
    • Kocher + Beck highlights GapMaster enhancements
    • Discover Achem Lamination
    • Global Graphics touts SmartDFE
    • Fujifilm, Edale find success with flexographic showroom
    • Fujifilm forecasts bright future for labels
    Rock LaManna03.04.21
    To bring out the best in your business, you need to curry it as if it were a top-performing racehorse. Before a thoroughbred ever sets hoof on a racetrack, it is groomed and trained. The owner and team pour their energy into the horse so it is a glowing, muscular specimen that is vibrating with energy. Anyone who visits the stable of a racehorse in training knows which horse is number one. Even standing alone, a horse like this will make you turn your head and gasp.

    Your business is like that horse, right? It is powerful and ready to take on the competition. Your team is 100% focused on the success of this asset. You as owner tend to it every day. Your business is healthy and groomed – a head turner.

    I know owners. Each one of you is nodding your head and saying, “Yes, that sounds like my business. It’s a thoroughbred.”

    Guess what? You may have the desire to be the owner of a thoroughbred business. You may even have the right pieces in place. But in my 45 years advising graphic arts companies, it’s one in a hundred who has the potential.

    A horse’s heart
    To put things in perspective, here’s a quote from America’s Best Racing: “Many people... cite horses’ hearts as the main reason they love them. From trying all-out to win a race to doing everything possible to make their ‘person’ happy, horses give their all to humans. They have so much ‘try’ and so much heart.”

    You see, an owner’s will, money and determination only get you so far. You also need to be deserving of the heart of the horse. Do you deserve that kind of single-minded loyalty?
    • Does your business – your horse – willingly and lovingly want to put everything into succeeding for you?
    • Will your team commit body and soul to ensure top performance?
    • Do the people around you, inside and outside your business, make your success a priority because of your character and commitment?
    If you’re still nodding your head, you may have the makings of an owner of a number one thoroughbred. While many owners think they are already receiving that level of loyalty and commitment, they will never know how much further they could have gone. They are too focused on power, wealth and their own comfort. If you are that person, there’s not much I can do about it. Instead, I will speak to the one owner in a hundred with potential.

    A thoroughbred business
    The top thoroughbreds are curried often because it’s good for the horse’s coat and circulation, and it’s good for team morale. In the stables and on the racetrack, the best want to work for the best.
    A well-tended thoroughbred shows the world that the organization is in top form. Likewise, the healthiest graphic arts companies are curried:
    1. From the exterior of the building to the smallest closet in the plant, everything is clean and arranged.
    2. Any outsider – vendor, customer or even competitor or potential buyer – could stop in on a moment’s notice and see an efficient and smooth-flowing plant with happy people.
    3. The employees have pride. Everyone understands their jobs, and they want to perform at their best. They are ethical, professional people who are honored to be part of the team.
    4. Employees at all levels of the organization enjoy making incremental improvements in their areas.
    5. Managers are coaches and strong leaders. They encourage innovations, input and open feedback.
    6. The owner is approachable, authentic and a positive role model.
    Whether you plan to sell/transition your business or hold and grow, a well-groomed business attracts attention. I’ve talked to owners who never plan to sell but love knowing that buyers are salivating over the possibility. They fantasize about being approached with top multiples and beneficial terms, validating the winning choices they’ve made with their business.

    This is what every business owner – especially founders – wants to believe: that all the struggle and sacrifice was worth it. They want to know that, in the final analysis, they are a success and make a difference.

    A truthful analysis
    How do you define success? Here’s one answer: Ask yourself if you’ve earned the heart of a horse. If you have been reading my column for years, there’s something you’ve probably guessed: I will always tell you the truth. If you want to know if your business has potential, I will tell you with frankness what I think. I may be the only person around you who feels free enough to tell you the truth.

    If you are the type of owner who is worthy of the heart of a horse, you will not be put off by what I say. You will welcome information and education on how to groom your business so you can take your place at the front of the field. You deserve that truth, your team demands it, and your thoroughbred business desires it most of all.


    Eight ways to attract top-paying buyers
    To benefit from deal flow and capture the advantage, a seller needs to think from the perspective of a prudent, serious buyer. Groom your business like a thoroughbred team would groom the top horse – to attract serious interest and earn the right to receive it.
    1. Make a commitment. Decide today to groom your business daily so it is a thoroughbred, not a workhorse. You need to be the best to attract the best.
    2. Keep financials organized and updated. Order daily cash flow reports from your accounting team. Meet with your CFO regularly, and track the financial health and status of the business in real time.
    3. Organize offices and production areas as if a buyer was going to do a surprise walk-through. Having visited countless specialty printing operations over the last 45 years, I can tell (and your prospective buyer can, too) if the shop has been quickly tidied up or if it’s always kept ship-shape.
    4. Remember that “leaders lead.” As an owner, take your rightful place as an idea generator, big picture thinker and disciplined planner. Being a micromanager or absentee figurehead is a detriment to your personal and business reputation.
    5. Integrity Matters. Obtain a baseline valuation. Set quantifiable goals that have a deadline or time element. Use your metrics to measure your results. Analyze external data on your competitors, industry, ideal customers and more. Find out what other successful owners are doing and how you can gain competitive advantage. Hire an experienced and trusted financial wiz to draw up your roadmap with goals, milestones and timelines.
    6. Always be prepared to exit within 90 days. The world is uncertain. Things change. People get sick and die. You need a Plan B, Plan C and Plan D. One of your plans must be how to exit, transition or sell the business quickly if necessary. That’s reality.
    7. Understand how to sell your business yourself. You might be thinking, “LaManna, you’re crazy! I don’t have time or expertise for that.” Here’s a fact: buyers are motivated to find well-run companies in potential growth markets to acquire and grow. If you own the type of business that has potential, this is the right time to start taking systematic steps to sell.
    8. Patience is an art. It’s easy to get distracted and overwhelmed. Appreciate when you achieve small wins. Express gratitude. Always invest in talented people. Keep your head in the game.
    9. Be healthy, vigorous and well-trained. Be ready to gallop at full speed when opportunities arise. Curry your business like the prized asset it is. If you can do that, you will be on your way to being a winner in the deal flow race.


    Rock LaManna is The Deal Flow Guy. He helps qualified buyers and investors find businesses that are ready for acquisition or transition. On the sell side, he helps owners improve their businesses, increase value, and position strategically in anticipation of sale, exit or succession. Sign up for his newsletter at TheDealFlowGuy.com and start the process.
    Suggested For You
    Kocher + Beck highlights GapMaster enhancements Kocher + Beck highlights GapMaster enhancements
    Discover Achem Lamination Discover Achem Lamination
    Global Graphics touts SmartDFE Global Graphics touts SmartDFE
    Fujifilm, Edale find success with flexographic showroom Fujifilm, Edale find success with flexographic showroom
    Fujifilm forecasts bright future for labels Fujifilm forecasts bright future for labels
    Fujifilm responds to label and packaging growth with versatile portfolio Fujifilm responds to label and packaging growth with versatile portfolio
    Archroma launches online regulatory and compliance platform Archroma launches online regulatory and compliance platform
    Toray Plastics (America) delivering clean energy to Rhode Island Toray Plastics (America) delivering clean energy to Rhode Island
    Michelman preparing for 10th Annual Global Day of Service Michelman preparing for 10th Annual Global Day of Service
    Flint Group Narrow Web introduces ‘Evolution Series’ of coating products Flint Group Narrow Web introduces ‘Evolution Series’ of coating products
    NanoGrafix engineers new solutions for security printing NanoGrafix engineers new solutions for security printing
    UFlex joins Alliance to promote circular economy UFlex joins Alliance to promote circular economy
    Chinese label printer improves OEE with AWP CleanPrint flexo plates Chinese label printer improves OEE with AWP CleanPrint flexo plates
    Colordyne and Adphos develop dryer for ChromaPlex LT print engine Colordyne and Adphos develop dryer for ChromaPlex LT print engine
    Bobst unveils oneLABEL portfolio at US-based virtual event Bobst unveils oneLABEL portfolio at US-based virtual event

    Related Content

    • Kocher + Beck highlights GapMaster enhancements

      Kocher + Beck highlights GapMaster enhancements

      In an interview with L&NW, David Morris explains how his company's latest technology gives the operator full control of the diecutting process.
      Greg Hrinya, Editor

    • Discover Achem Lamination

      Discover Achem Lamination

      ...

    • North America
      Global Graphics touts SmartDFE

      Global Graphics touts SmartDFE

      All four Global Graphics group companies – Global Graphics Software, Hybrid Software, Meteor Inkjet and Xitron – exhibited together for the first time.
      09.27.21


    • Europe | Flexography
      Fujifilm, Edale find success with flexographic showroom

      Fujifilm, Edale find success with flexographic showroom

      The facility has highlighted Edale’s flexo presses and Fujifilm’s Illumina LED UV curing system and inks.
      09.22.21

    • Digital Printing | Flexography | Ink and Coatings
      Fujifilm forecasts bright future for labels

      Fujifilm forecasts bright future for labels

      The company has continued to engineer solutions for a market that is expected to grow at 3-5% CAGR.
      Greg Hrinya, Editor 09.22.21


      Trending
      • Specialty Announces Move To New Facility | Label and Narrow Web
      • FLEXcon Addresses Sustainability Commitment In New VideoBite | Label and Narrow Web
      • Brook + Whittle's New Acquisition, SunDance Goes To HP And More | Label and Narrow Web
      • Specialty announces move to new facility
      • FLEXcon addresses sustainability commitment in new VideoBite
      Breaking News
      • Avery Dennison announces Core Series Portfolio Tape Selector App
      • HP Indigo reaches 2,000th active install milestone
      • Brook + Whittle's new acquisition, SunDance goes to HP and more
      • Specialty announces move to new facility
      • Mark Andy hosts dealer's open house in Warsaw
      View Breaking News >
      CURRENT ISSUE

      April 2022

      • Dscoop Post-Show Coverage
      • Slitter-Rewinders
      • Craft Beer Labels
      • Pharmaceutical Labels
      • Luminer Converting Group

      Cookies help us to provide you with an excellent service. By using our website, you declare yourself in agreement with our use of cookies.
      You can obtain detailed information about the use of cookies on our website by clicking on "More information”.

      • About Us
      • Privacy Policy
      • Terms And Conditions
      • Contact Us

      follow us

      Subscribe
      Nutraceuticals World

      Latest Breaking News From Nutraceuticals World

      Vitafoods Europe 2022 Attendance Returns to 2019 Level
      Beyond Raw Launches Concept X Pre-Workout Line
      Botanical Ingredient MorActive Evidenced to Relieve Back Discomfort
      Coatings World

      Latest Breaking News From Coatings World

      PPG’s Diane Kappas Recognized as ‘Woman of Influence’ by Pittsburgh Business Times
      BEHR Launches COPPER FORCE Interior Paint
      A New Kind of Primer: Demand for Interior and Exterior Paint Experts Remains High, J.D. Power Finds
      Medical Product Outsourcing

      Latest Breaking News From Medical Product Outsourcing

      I-VASC Raises 1.8M Euros in Series A Funding
      Endotronix Shares Positive SIRONA 2 Heart Failure Trial Data
      FDA Clears Truvic's Prodigy Thrombectomy System
      Contract Pharma

      Latest Breaking News From Contract Pharma

      Thermo Fisher, Qatar Genome Program Partner to Advance Precision Medicine
      CPC Launches AseptiQuik Genderless Connector
      Aptamer Group and PinotBio Extend Collaboration Agreement
      Beauty Packaging

      Latest Breaking News From Beauty Packaging

      L’Oréal USA Names Han Wen as Chief Digital & Marketing Officer
      NPD Group Reports on Rising E-commerce Sales in China for Prestige Beauty
      Noon Aesthetics Celebrates Ten Years with New Skincare Products
      Happi

      Latest Breaking News From Happi

      Gabriel Letizia Jr. Sentenced to 60 Months in Prison for Falsifying Sunscreen Test Results
      Coptis Appoints Marie Renee Thadal Vice President of Sales and Operations
      Han Wen Appointed L’Oréal’s New Chief Digital, Marketing Officer
      Ink World

      Latest Breaking News From Ink World

      Weekly Recap: Zeller+Gmelin, Sun Chemical and Kornit Top This Week’s News
      Nazdar Celebrates 100 Years with a New Look
      hubergroup Chemicals Exhibits at Paint India for First Time
      Label & Narrow Web

      Latest Breaking News From Label & Narrow Web

      Avery Dennison announces Core Series Portfolio Tape Selector App
      HP Indigo reaches 2,000th active install milestone
      Brook + Whittle's new acquisition, SunDance goes to HP and more
      Nonwovens Industry

      Latest Breaking News From Nonwovens Industry

      Ahlstrom-Munksjö Announces Reorganization of Decor Business Ownership
      Jones Names COO
      Ontex Conducts Pilot Program of Digital Incontinence Care Solution
      Orthopedic Design & Technology

      Latest Breaking News From Orthopedic Design & Technology

      Tom Hedman Named Senior Principal Scientist at Spinal Simplicity
      ODT's Most Read Stories This Week—May 21
      FDA Clears Anika Therapeutics' X-Twist Knotless Fixation System
      Printed Electronics Now

      Latest Breaking News From Printed Electronics Now

      Weekly Recap: Graphene Flagship, Japan Display and LG Display Top This Week’s Stories
      Evonik Launches New Processing Aids for PV Wafer Cutting
      NREL Creates Highest Efficiency 1-Sun Solar Cell

      Copyright © 2022 Rodman Media. All rights reserved. Use of this constitutes acceptance of our privacy policy The material on this site may not be reproduced, distributed, transmitted, or otherwise used, except with the prior written permission of Rodman Media.

      AD BLOCKER DETECTED

      Our website is made possible by displaying online advertisements to our visitors.
      Please consider supporting us by disabling your ad blocker.


      FREE SUBSCRIPTION Already a subscriber? Login