There are two types of clients that we work with for Business Strategic Planning:
1. Entrepreneurs at the start-up phase
2. Established business owners looking to create a successful and efficient exit strategy
First, entrepreneurs who want to start their own business:
Where do you start? You have an idea but do not know where to go to make your idea turn into a real live business that makes money by providing services and/or products to the marketplace. Strategic planning is a process of designing and organizing strategies, and making decisions on allocating your financial resources. This plan will help create and manage cash flow for your business.
The first step is to create a business plan. This will improve your business’s chances at achieving success. Undertaking this task can be very complicated. Therefore, a smart business owner will hire professionals to help create a strategic plan. This process can vary in duration depending on the complexity of the business plan.
The second step is to implement the business plan. The most difficult part of starting a business is taking that first step to move forward to realizing your goals and ambitions. With a business plan completed you are ready to use it as a road map to starting your business.
The final step is to audit your plan at least annually with a professional. This allows you to adjust your actions and tasks to completing your company startup.
Second, the established business owner, who desires to establish and implement an exit strategy:
Plan Your Exit: Do you know how you are going to exit your business? You may have a dream of going public, selling to the highest bidder, or retiring and handing over your business legacy to your family.
Big dreams aside, the truth is that many business owners have no exit strategy for their businesses in the event of their disability, retirement, or death. Given the current economy, it isn’t surprising business owners focus their energies on business survival, future growth, and even remaining active in business after retirement. However, a business exit strategy not only means having a plan for the unexpected – including financial hardship, injury, disability and even death – it also means having a plan for the succession or transfer of ownership of your business when it comes time to hang up your hat and retire.
Here are a few things to consider as you plan your business exit strategy:
Develop a Succession Plan
Invest in a Retirement Plan and Insure your Worth
The Process of Exiting Your Business
Transfer Ownership
An Outright Sale
A Gradual Sale
A Lease Agreement
Other Considerations