To optimize business success your focus should be on both growing your company today and planning your exit objectives. These endeavors are most effectively pursued concurrently and maximizing the value of your business is foundational to achieving both short and long-term goals. Maximizing value – for today and tomorrow – hinges on identifying and prioritizing …
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Whether your focus is on building your business now or planning for an exit down the road, there’s obviously a lot you need to know. As a business owner juggling a multitude of priorities, you may wonder… where do I even begin? Every business owner needs a guide when it comes to planning for what …
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New Year resolutions often don’t last long because they don’t dovetail with what’s truly important to us. Now that we’re a month into the year, it’s a perfect time to reassess your genuine priorities. I’d venture that, at the top of that list, is the well-being of your family – including a secure future – …
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Whether you are focused on growing your company in the present or preparing for your eventual exit, your success on both fronts hinges on maximizing the value of your business. Every business owner will eventually exit – whether it’s planned or not. Savvy business owners recognize this truth and work towards closing the gap between …
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My first suggestion to business owners who want to start exit planning is to pick a target date for their exit. Their next question is, “Now what?” My advice – get an accurate determination of the current value of your business, forecast the amount needed to meet your financial objectives upon and after your exit, …
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Last month I was one of three presenters at a Lunch & Learn for business owners. The content focused on maximizing the value of one’s business, either in preparation for sale or exit, or as part of a growth strategy. Along with two colleagues, Ken Galecki and Rick Arthur, we shared our expertise for takeaways …
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As a business owner and leader, working ON your business – not just in it – is imperative if you’re going to keep your company on track, moving in the right direction, and reaching the milestones identified for your success and sustained growth. What does that entail? Working ON your business can be summarized as …
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Exit planning is focused largely on optimizing the value of the business, which means you need an understanding and a focus on value drivers. Why is this necessary? The initial steps in an exit plan are straightforward: Choose an exit date. Document foundational information about the company and your exit objectives. Obtain a current valuation …
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Maximizing the value of your business is the focus of a good exit strategy. It logically follows that a focus on value optimization should be built into your overall business strategy and how you run your business. Leading management consulting firm, McKinsey & Company, has developed a model for a comprehensive approach to value-based management (VBM). They assert …
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After completing assessments and documentation, choosing her exit date, and working with me to develop an exit strategy, one of my clients is now in the process of executing that strategy. Her primary focus at this stage is on evaluating and optimizing the performance of the value drivers that impact her business. Enhancing performance in …
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