Posts Tagged ‘exit strategy’

Do You Have An Exit Strategy For Your Business?

When you started your business, did you have a vision about where it would take you and how you would eventually exit the business?

If not, it is something you should consider and plan for so that you maximise the return on your years of investment; time and money!

There are a number of different options available for disposing of a business and some important considerations to make before you close the door of your business behind you.

Key Mistakes That Sellers Make

Strategy – What’s Your Next Move?

There are over 4.5 million businesses in the UK and every year 400,000 are formed, with nearly as many failing. Most businesses stay small or plateau at a certain turnover without being able to grow – probably because business owners are working ‘in’ the business rather than ‘on’ it; making tactical day to day decisions rather than strategic ones.

So what distinguishes a successful business?

How about the following?:

• Knowing your strengths and weaknesses
• Having targets in place
• A business plan covering all aspects of the business
• Effective targets and measurements in place
• Ensuring that product and service offerings meet the needs of the market
• Ability to create a competitive edge
• Efficient, clear and consistent business processes
• Inspired and driven leadership

Getting back to your core competencies and strengths in order to focus and build upon them is where having a strategy is important.

So where to start?