3 Lessons from the Jimmy Johns No-Go IPO
The Jimmy John’s Franchise LLC has been considering and planning for an IPO since at least May of 2015, according to a Reuters article. However, the head freaky-fast sandwich maker, CEO Jimmy John Liautaud, abruptly put an end to the IPO discussions. This is according to a recent Daily Herald Article.
The chain does have plans of continuing its expansion and launching locations in California over the next five years
Have a Vision.
It’s okay to alter your plan along the way, but have a vision for how you want your company to operate. When building a business, Beginning with the End in Mind has many benefits and maybe Liautaud realized that he didn’t want the business he built to be responsible to Wall Street.
Sunk costs are sunk costs.
Don’t make decisions about continuing a lost cause simply to justify the amount of time, energy, and money invested. This has proven fatal for many companies. If you’ve decided that something isn’t going to work, consider the invested amount a sunk cost. Liataud obviously spent much in considering the IPO, but the amount of the cost wasn’t a swaying factor in his decision making or justifying an IPO for Jimmy Johns.
Do what works for you.
Change isn’t always a good thing. If you’re business is operating at a level that is both financially and personally rewarding, then keep doing what’s working for you. If you want different results, then a change might be necessary. But before you make the change, talk with an outside consultant or trusted third-party who can objectively evaluate a major business decision.
The Business Consultants at YourBizDr.com can help you:
- Consider Unforeseen Challenges
- Understand the Resource and Regulatory Implications
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- Assist in making the right decisions for your business
Our team of management consultants can help with many other major and minor business decisions too. Recently, I wrote about 5 Decisions Business Owners are facing in December.
Contact us today to see how we can help turn your business decision into a business success.