In a previous post, I wrote about building company value. I can’t over state how important this is particularly for older business owners that are considering selling their businesses in the next 5-10 years.
If you don’t find yourself in the category of older business owner, building value in your business is still important. The sooner you get started, the greater value you will realize when it comes time to sell.
It all starts with a commitment to make planning a priority.
What do you know about your company?
If you can answer yes to all the questions below then you are in good shape, but if you have no’s amongst the yes’ it is time to think about developing a plan to build value into your business operations.
|We have a clear understanding of our business.||Yes||No|
|We know our primary and supporting customers.||Yes||No|
|We know what our customers value.||Yes||No|
|We know the success requirements of our business.||Yes||No|
|Our management team knows how to manage and drive these success requirements.||Yes||No|
|We know our strategic dependencies.||Yes||No|
|We know our customers’ unsatisfied needs/wants.||Yes||No|
|We know our strategic position in the market.||Yes||No|
|We know what our strategic position should be to gain lasting uniqueness.||Yes||No|
|We know what our business should be in the future.||Yes||No|
|Our management team is on the same page.||Yes||No|
Where does your company stand?
If you are ready to start building a plan that guides future growth and worth, we have much to talk about. As a certified strategic operating plan facilitator, I can help you develop a renewable strategic operating plan that will provide a yes to all the questions listed above while producing results that translate into value and profit.
Please contact me to learn more about how a strategic operating plan can help your company build value.