My recent blog, Prioritizing Value Drivers in Your Exit Strategy, reviewed the general process of developing an exit plan and beginning to execute that strategy. The process involves optimizing your company’s value drivers – business systems that generate either recurring revenue or financial efficiencies from an established, growing customer base and those internally controlled activities, …
Read More »
One of my clients wants to sell her business and retire in 10 years. She completed our online Owner Planning Checklist which got her thinking about next steps. Since then, she has chosen her exit date, thinks she’d like to sell to an outside, third party, and has documented foundational information about her company and …
Read More »
The concept of “Ownership Thinking” is founded on Brad Hams’ philosophy and methodology of building business wealth by instilling a mindset of ownership among employees. His Ownership Thinking model is the foundation of his business and book – both by the same name – which guide companies to unleash their potential by providing the training …
Read More »
The term “Ownership Thinking” (OT) is likely best known as the title of a book. But it’s also a business, and a mindset. The Denver area business came first, founded by Brad Hams in 1995 after several years of developing the Ownership Thinking model. Its goal was to help businesses unleash their potential by providing …
Read More »
Once you’ve chosen an exit date, your attention should turn to value drivers – those activities, capabilities, or qualities that add worth to your company and that are under your control. Adding worth includes increasing profitability, reducing risk, and promoting growth consistent with your strategic goals. Optimizing performance in key areas of your business will …
Read More »
All business owners know they will eventually exit their business, and most understand that making it happen on their terms is a process that typically takes years. Yet, as is the case with any complex project, sometimes the hardest thing to do is start. Yet, starting is as simple as choosing your exit date! I …
Read More »
If your exit plan includes selling your business, you can likely expect the potential buyer to request a Quality of Earnings Report. Obtaining a Quality of Earnings Report (QER) is one of the major steps in due diligence that a prospective buyer will perform to determine the quality of assets and identify financial shortcomings of …
Read More »
Benjamin Franklin must have had business owners in mind when he said, “Those who fail to plan, plan to fail.” Every business owner knows they will eventually exit their business – it’s just a fact. It may be years away and seem that there is plenty of time to plan and prepare – later. But …
Read More »
Regardless of the industry, number of employees, annual revenue, or the product or service you offer, if you own a business you have three things in common with every other business owner: You don’t want to pay more taxes than you absolutely must. At some point, you WILL exit your business. When you exit your …
Read More »
Do you have a budget – a real budget? The value of a data-based, dynamic, working budget is often overlooked. Why every business should have a budget: A well-prepared budget illustrates where you are financially, where you need to be to meet your objectives, and identifies the gap between the two. A budget facilitates a …
Read More »