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Other Added - Your Exit Strategy - The Biggest Mistake You've Already Made
Charity campaigns usually have two aims – to create greater awareness of their particular cause and often to fundraise as well. Who could argue with that? The problem is that commercial organisations are joining in the awareness game and creating their own world/ international or national awareness day, week or month for their products or services. So everything gets lumped i
1. You’ll see the value in creating and keeping long term, loyal customers
2. You’ll plan the business so that costs are minimized and profits maximized
3. You’ll create systems an
You can hardly influence the development of your child by selecting whatever name. That is one of the conclusion of Steven Levitt published in the book “Freakonomics.” Most influence is given to a child before it is even born. You can do wrong however – according to an example in the same book of a parent that named a first son “Winner” and the latest born “Loser.” Imagine wh
It’s the same with any investment. The most successful investors go in with an exit strategy. That way they know when to come out and what profit they expect to make on the overall deal.
Many business owners begin their businesses with plans to grow and projections out into the future. However, most of those who begin their business don’t put in place an exit point for the future. They may make some vague statements about what value they want their business to achieve but they don’t set that as a true target. They don’t treat the business as an investment, they treat it as an ongoing project.
The private equity world understands this and when they make an investment in a business they expect to make a specific return on their investment. Most firms will make their investment for 3 to 5 years and expect a return of at least 2.5 times their money.
If you see your business as an investment then there will be a number of differences in the way you approach it:-
1. You’ll see the value in creating and keeping long term, loyal customers
2. You’ll plan the business so that costs are minimized and profits maximized
3. You’ll create systems and
There are millions of people working extremely hard every day in the UK to ensure that the public are healthy and recover from illness or accidents. Countless medical staff around the country study hard to become doctors and nurses and then work long hours and endure stressful situations in order to save the lives of men women and children every day. These people are present
Many business owners begin their businesses with plans to grow and projections out into the future. However, most of those who begin their business don’t put in place an exit point for the future. They may make some vague statements about what value they want their business to achieve but they don’t set that as a true target. They don’t treat the business as an investment, they treat it as an ongoing project.
The private equity world understands this and when they make an investment in a business they expect to make a specific return on their investment. Most firms will make their investment for 3 to 5 years and expect a return of at least 2.5 times their money.
If you see your business as an investment then there will be a number of differences in the way you approach it:-
1. You’ll see the value in creating and keeping long term, loyal customers
2. You’ll plan the business so that costs are minimized and profits maximized
3. You’ll create systems an
"Well Dave, here's how it is. Thanks to Oracle, we have most of the parts we need for all of the products. However, we don’t have all of the parts we need for any of the products."That quote came from the Director of Purchasing regarding the new Oracle system the company had just implemented. Honesty was long overdue. We were working in a $500 million dollar tech outfi
The private equity world understands this and when they make an investment in a business they expect to make a specific return on their investment. Most firms will make their investment for 3 to 5 years and expect a return of at least 2.5 times their money.
If you see your business as an investment then there will be a number of differences in the way you approach it:-
1. You’ll see the value in creating and keeping long term, loyal customers
2. You’ll plan the business so that costs are minimized and profits maximized
3. You’ll create systems an
Project management training is actually a process of helping people involved in the project be aware of their roles and learn how to properly execute their roles while enhancing their skills and knowledge related to the steps which make up the entire plan. Training is usually integrated in the plan itself and are customized to match the objectives and the existing resources t
If you see your business as an investment then there will be a number of differences in the way you approach it:-
1. You’ll see the value in creating and keeping long term, loyal customers
2. You’ll plan the business so that costs are minimized and profits maximized
3. You’ll create systems an
Nobody knows why dinosaurs died off, but there are many intriguing theories.Dead dinosaur hypotheses parallel the excuses owners use when their businesses fail.Reason 1. An asteroid or volcano caused a fatal disaster. This absolves dinosaurs or businesses from any blame, since extinction was due simply to being a pathetic "victim of circumstances."H
1. You’ll see the value in creating and keeping long term, loyal customers
2. You’ll plan the business so that costs are minimized and profits maximized
3. You’ll create systems and processes that are repeatable
4. You’ll build a management team who can run the business without you
5. You’ll create a focused niche business that will be of value to others
6. You'll have a specific target valuation in mind from the beginning
7. You’ll have a simple capital structure which minimizes tax and makes the business easier to sell
When you adopt this approach you get two main benefits. Firstly, your business will be a lot more efficient and effective, which will serve your customers and your staff. Secondly, it will be a lot easier to sell when you reach your target because you’ve been preparing it from the start.
Although it’s likely you’ve already made the mistake of not starting your exit planning early enough, it’s still not too late. You can start today by writing down what your exit plans are. Do you intend to keep your business as a lifestyle business until you’re ready to just quietly end it, or do you plan to get out sooner and achieve the maximum value for selling it?
Once you’ve decided what your objectives are you need to step
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