Posts Tagged "planning exit strategy"

Pick Your Stocks or Your Business

»Posted by on Sep 26, 2011 in Business Growth, Business Valuation, Exit Strategy, Growth Strategies, Management, Selling A Business | 0 comments

Let’s say you have a choice.  You can keep your business, or you can keep your stock portfolio. Which would you choose?  The most valuable, I’m sure. What are your stocks worth today?  You check them every day, right?  Almost everyone does. What is your business worth?  You check it every month, right?  Virtually nobody does. Why is that?  Why can most business owners tell me what their stocks are worth, but not what their business is worth? This wouldn’t be true if they managed their business like an investment. It’s a matter of focus. Get blog updates in your...

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3 Exit Strategies For You and Your Business

»Posted by on Aug 5, 2011 in Business Growth, Exit Strategy | 0 comments

Every story needs a great ending, and so does your business story.  The good news is you get to write your own great ending.  It is called an exit strategy. You’ll learn that this may or may not mean actually selling your business.  Many successful business owners choose to stay actively engaged.  The difference is that continued involvement is a personal choice, not a business requirement. You get to make that decision and choose any of these three main exit strategies: 1.   Sell the business and move on to your next great adventure. 2.  You can grow your business to the big time. 3.  You can...

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What Is Business Exit Planning?

»Posted by on Jul 26, 2011 in Business Growth, Exit Strategy, Management | 0 comments

There are two ways you could exit your business: voluntarily or involuntarily.  One way or the other, someday you will leave your business.  With good exit planning, either can be done profitably and with ease. I believe your first goal should be to decide if you wish to leave your business at all.   Many business owners prefer to work as long as they can.   Others want to work until they can just step aside and passively own a well-oiled, smooth running business, leaving day-to-day operations to others.   Either can be down with proper planning.  Preferably with plans that include the flexibility...

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Digging For Sales In A Vein of Pure Gold

»Posted by on Jul 21, 2011 in Business Growth, Sales & Marketing, Sales Training | 0 comments

Serving your current customers the way they should be served can be like digging in a vein of pure gold.  You have a source of new business right in your file cabinets or on your computer’s hard drive.  It is expensive to find new prospects and convert them to customers.  When times get hard, as they have been for the past three years, our natural inclination is to double our efforts to attract new customers.  There is nothing wrong with that, but there is an additional way to bring in new business in hard times that is much cheaper. Our files are loaded with people currently doing business with us,...

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3 Ways To Prepare To Sell A Business In 1-5 Years

»Posted by on Jul 20, 2011 in Business Valuation, Exit Strategy, How To Sell A Business, Selling A Business | 0 comments

What can you do now to prepare your business for sale next year or years down the road? Here are three things I recommend you do now so you’ll be prepared to sell later. 1. Determine what your business is currently worth.   Determine what your business is worth now. Industry associations or business intermediaries are good sources for the most common valuation methods.   You can hire a valuation firm or a CPA experienced in your industry and type of business. Gain an understanding of how companies in your industry and business category are valued by the marketplace. 2. Conduct a buyer’s...

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