Are you tempted to re-sell someone else’s product to boost your topline revenue?
On the surface, becoming a distributor for a popular product can appear to be a simple way to grow your sales—simply find something that is already proven to be successful elsewhere and negotiate the rights to sell it in your local market.… Read more >
Imagine you’re a farmer and you’ve been tending to your crops all year. It’s harvest season and finally time to collect the spoils of your labor.
You start harvesting your crops only to find out that pesky rodents have been quietly eating away at your fields. You’re devastated as you come to the realization that much of what you have been working so hard to cultivate has already been taken.… Read more >
Last month I introduced the concept of a business dashboard as a tool for monitoring your business. Monitoring KPI in the months or years prior to selling your business will facilitate exit strategy success by helping you to organize and monitor relevant information and tasks. In general the following best practices enhance the functionality of any business dashboard:
- Limit KPI to 6-8 metrics that matter: Focus on quality, not quantity.
… Read more >
I often stress to my clients the importance of cultivating their employee and management teams as part of the exit strategy process (you can read about maximizing the value of your company’s human capital here). For some businesses it makes better sense to outsource human resource needs. According to Joe Worth, Vice President of Operations and partner at B2B CFO®, a Professional Employee Organization (PEO) is “one of the best-kept secrets of many successful small businesses.” Read the complete post here.… Read more >
The Business Exit Planning process had a number of key milestones. The Due Diligence Period is a critical stage, and it is vital that it go both smoothly and with the least amount of disruption to the day to day operation of the business. Advance planning can achieve this desired result. … Read more >