GROW Your Business
Scaling a business shouldn’t be a haphazard, by the seat of your pants event. Scaling your business for continued, sustained profitability and growth should follow a strategic plan.
In its simplest form you need:
- A written process for your major business operations
- A duplicatable and scalable sales process
- Profit Optimization
- Process Improvement
- Edge Growth Strategies
- Customer re-Engagement
- Employee Development
- Optimized Sales Process
Schedule a discovery call at your convenience and we can talk about your particular situation.
Create Your options
An alternative to selling your business is to strategically re-design your business to offer more freedom and get away from the day to day operations without losing income. This can be an attractive option for owners who enjoy their business but want to alleviate some of the stress, and time commitment, of daily operations.
— other reasons may include —
- Proceeds from an outright sale will not full-fund my retirement (value gap)
- I Still like the work
- I’d like to be more involved with strategy and long term growth activities and not the day to day
- I want to be sure my employees continue to thrive
- I’m not sure what I would do if I didn’t have my business any longer
- I want to preserve my legacy to pass on to the next generation and practically guaranty their success.
- I want to keep the income and keep my options open, perhaps for a successful sale later
A business that is not dependent on its owner is the ultimate asset to own. It allows you complete control over your time so that you can choose the projects you get involved in and the vacations you take. When it comes to getting out, a business independent of its owner is worth a lot more than an owner-dependent company.
Even if you have zero intention of selling your business, and even if you never sell your business, you can still benefit greatly by building your business with a thought to how an outside investor would look at it.
You may be may be planning to sell your business in the 1-10 years or simply want to create a more valuable business so that you have more options.
A theme throughout exit planning is to create a business that will thrive without you. Why is that important? Because business buyers place value on a business that have systems and processes in place, they aren’t buying a job, they are buying a business.
Exit Planning involves creating an attractive business in the buyer’s eye. A recent study from the Exit Planning Institute demonstrates how important Exit Planning is.
Most business owners are unhappy with how they transitioned out of their business.
The Exit Planning Institute reports:
- Only 5% of business owners are happy with the proceeds from selling their business.
- 20-30% of businesses that go to market actually sell. (70-80% do not sell!)
- 30% of all family-owned business survive into the second generation, and just 12% into the third.
- 50% of all transactions agreed to between the buyer and seller fall apart during the due diligence stage and never close.
- 78% have no formal professional transition team
- 83% have no written transition plan
- 49% have done no planning at all