What is Your Exit Strategy?
What is Your Exit Strategy?
Obviously, it is better to plan for this eventuality sooner rather than later - that way you can be sure you control the process and not the process control you. Clearly defining your objectives, having a plan and giving full consideration to all possible options, will place you in a much stronger position than the ambulance at the bottom of the cliff scenario. A successful exit strategy ensures you get to manage the process to provide the outcome you want, while maximising your return.
One way of ensuring your best return on the eventual sale is to always ensure it is in good saleable shape. Keep in mind that the exit strategy needs to be flexible, as circumstances can change. Develop, establish and formalise efficient, workable business systems so that your business does not depend solely on you and your knowledge. Train and empower key employees, that way a potential buyer can be confident they can step in and run the business successfully in your absence.
One common element in any successful business sale is a healthy cashflow, ensure this is there when it comes time to exit your business. Also maintaining good financial records that demonstrate a strong or growing business will go a long way to attracting a quality buyer and maximise your return. When a business needs to be sold quickly as in an unforeseen or unplanned exit, the owner often has difficulty realising the full market value of the sale. Proper planning can help ensure that even quick sales produce good results.
Whatever your business exit strategy, try and pinpoint the needs particular to you and your business. A successful exit strategy is the one that works best for you and provides you with the best possible outcome. For more information on building the value into your business or listing your business for sale, visit www.nzbizbuysell.co.nz.
Information provided by www.nzbizbuysell.co.nz.
What is Your Exit Strategy - To learn more about this author, visit Rob Keating's Website.
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Having a business exit strategy is an important aspect of any business plan. It is a natural component of being in business to have your focus on the more positive aspects of running and developing your business but it is important to be prepared well in advance for your inevitable exit. Whether the exit time is planned, for example through retirement, or the unexpected, such as through illness, it is important to be prepared.
Obviously, it is better to plan for this eventuality sooner rather than later - that way you can be sure you control the process and not the process control you. Clearly defining your objectives, having a plan and giving full consideration to all possible options, will place you in a much stronger position than the ambulance at the bottom of the cliff scenario. A successful exit strategy ensures you get to manage the process to provide the outcome you want, while maximising your return.
One way of ensuring your best return on the eventual sale is to always ensure it is in good saleable shape. Keep in mind that the exit strategy needs to be flexible, as circumstances can change. Develop, establish and formalise efficient, workable business systems so that your business does not depend solely on you and your knowledge. Train and empower key employees, that way a potential buyer can be confident they can step in and run the business successfully in your absence.
One common element in any successful business sale is a healthy cashflow, ensure this is there when it comes time to exit your business. Also maintaining good financial records that demonstrate a strong or growing business will go a long way to attracting a quality buyer and maximise your return. When a business needs to be sold quickly as in an unforeseen or unplanned exit, the owner often has difficulty realising the full market value of the sale. Proper planning can help ensure that even quick sales produce good results.
Whatever your business exit strategy, try and pinpoint the needs particular to you and your business. A successful exit strategy is the one that works best for you and provides you with the best possible outcome. For more information on building the value into your business or listing your business for sale, visit www.nzbizbuysell.co.nz.
Information provided by www.nzbizbuysell.co.nz.
What is Your Exit Strategy - To learn more about this author, visit Rob Keating's Website.
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Anne BarrAnne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
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Leanne Hoagland-SmithAre your sales where you want them to be? Will you be one of the few who achieves sales or business success or one of the many who have failed to change? Are you tired of being told you are like everyone else? Then you may find my first book on sales of interest. Be the Red Jacket in the Sea of Gray Suits, The Keys to Unlocking Sales available at Amazon or at http://www.processspecialist.com/red-jacket.htm. This book is a reflection of my no-nonsense approach to improving sales to overall business results. If you are truly committed to making sustainable changes, then I can help you secure a positive return on your investment because I focus on executable solutions not telling you the problems you already know you have. From training to corporate (group) coaching to executive one on one coaching, my approach is to assess, create awareness, build a goal driven action plan and then execute. The bottom line question is "Not do you or your employees know it, but do you or they want to do it?" Please call for a free strategy session at 219.759.5601. - Visit Leanne Hoagland-Smith's Website |
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George LudwigGeorge Ludwig is a recognized authority on sales strategy and peak performance psychology. An international speaker, trainer, and corporate consultant, he helps clients like Johnson & Johnson, Abbott Laboratories, Northwestern Mutual, CIGNA, and numerous others improve sales force effectiveness and performance. Though it's George's strategies and processes that help corporations increase productivity and performance, it's his tremendous energy and dynamism that spark the transformation. Again and again, clients remark on his amazing ability to unleash human capacity and inspire men and women to break out of their comfort zones. The result is a whole new type of salesperson. His customized presentations teach achievers to make stunning advances in their lives. From helping salespeople realize cherished dreams to helping corporations exponentially accelerate revenue streams, George Ludwig leaves audiences and individuals empowered, emboldened, and clamoring for more. George is the best-selling author of Power Selling: Seven Strategies for Cracking the Sales Code and Wise Moves: 60 Quick Tips to Improve Your Position in Life & Business. - Visit George Ludwig's Website |
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