Anyone who has read Stephen Covey's best selling book, "The 7 Habits of Highly Effective People," knows that lesson #2 is "begin with the end in mind." This lesson can and should be applied in company strategy as soon as the company if conceived or as early as possible thereafter.
A Sales-Ready Posture
The truth is all businesses will close someday. The question is, on whose terms? Whether the company is sold for maximum value or simply closes its doors due to having no exit strategy in place, the day will come when all business owner part ways with their babies, and its beneficial to plan for that well in advance. Even if you are having the time of your life running your business and have no plans on exiting any time in the near future or maybe you even want to leave your business to your kids or grandkids one day, achieving a sales-ready posture has multiple benefits, not only for your eventual exit, but here and now as well in the present.
Two Significant Benefits
By beginning with the end in mind and having a sales-ready approach to your business strategy, you will receive two major benefits.
First of all, whether your exit plan is for next year or maybe next next decade, a sales ready posture will make that eventual sale better, faster, easier, smoother, more profitable whenever that day may arrive. You are laying the groundwork for a future lucrative transaction. Any you never know when a hot buyer could give you an unsolicited offer that you cant refuse. As the saying goes, better to be prepared for an opportunity and not get it than to get an #opportunity and be unprepared.
But secondly, and just as important, having a sales-ready mindset will make your #business better today! The process of preparing your business for sale, whether you are selling or not, will make your business stronger, better, and more valuable. Truth is, companies who are undergoing strategic #ExitPlanning are more valuable and more attractive to potential buyers than companies who do not engage in exit planning strategy.
Preparations
A sales-ready posture involves both internal and external preparations. The company's strategic direction needs to be formalized and management techniques standardized. #Relationships need to be established and cultivated. The company profile and #reputation need to be elevated.
You need to know what a top paying buyer in your industry is looking for and it would behoove you to implement that knowledge well in advance. Smart business owners look down the line at their companies future and plant the seeds now that will need time time to grow.
Exit Planning
So whether you are planning to sell soon or maybe never sell at all, by beginning with your exit in mind, your company will be stronger, healthier, more valuable and more attractive in the marketplace by engaging in comprehensive exit planning.
#DreamBusinessBrokers offers complimentary, confidential exit planning consultations. Our #CertifiedExitPlanning Consultants will be happy to meet you you #confidentially, discuss your goals and #vision, and make sure you are on the right track to get there. At Dream Business Brokers your business is our business and your #success is our success.
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