As an entrepreneur, sooner or later you will encounter challenges. Experienced and starting entrepreneurs talk about their dilemmas. This time: top entrepreneur Aad Ouburg about his company Princess and the sales process.
Media coverage through glamor events
Aad Ouborg sold Babyliss in 1994 and started his own home appliance brand: Princess. To bring his products to the attention, he collaborated with Famous Dutchmen. He organized glamor events around his brand. This always attracted many celebrities and relations. With this he managed to generate a lot of media attention and Princess quickly became a household name in the Netherlands.
Listening costs nothing
Ouborg: “Princess was not for sale at all when the company WMF came by and showed interest in the company. I was very proud that they were interested. I listened to what this party thought my company was worth and what it had to offer. After all, listening costs absolutely nothing. It increasingly appealed to me to sell Princess Household Appliances. ”
Keep or sell
One evening the moment came when Ouborg had to say yes or no to the interested buyer. “I sat at the table with my children and asked, ‘What should I do? Should I keep Princess for you or should I sell it? ‘ My son Tim then said, “Dad, if we’re good enough, we can set up a business ourselves.” That was the deciding factor for me. I remembered how much I liked starting from 0 myself. So I decided to sell Princess Household Appliances. ”
Brand name gets a restart
The household appliances company sold Ouborg. But he kept the name Princess to develop other activities with his children . “There was 100 million in marketing in that name. You don’t just put that on again. It is such a universal, international and trusted name. You can use it for almost anything. That’s why I decided to keep the name for my children. They now use the name for Princess Sportsgear and Princess Traveler, among others. ”
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Know what you are selling
If someone approaches you to buy your business, the entrepreneur believes it is important to listen carefully. “Investigate the offer and whether the party is really serious. Also find out what your business is worth. Know what you are selling. And know where you are going. For example if you have children who would like to enter the company. As an entrepreneur you must always be prepared for such an offer. ”…