The Next Step, Toward The Future Of Your Business.
Just like raising kids, your business needs to grow too.
Your business should have a plan.
There are many similarities between parenting and growing a business.
And just like raising kids, the goal is to raise kids that are independent and financially stable.
At some point, your kids learn from teachers, coaches, friends and eventually a boss.
One of the major hurdles of all small businesses is to realize that their baby/business needs to grow up and be lead by other people.
From the time you drop your kids off at school, to their wedding day. It's scary.
The truth is...
Your kids needed you at one point. But it's healthier that they depend on you less as time goes on.
That is what an exit strategy is.
It's the plan that is put in place, where you let go and let your business grow.
When you let go, you'll be free to create more businesses, or simply enjoy your life and free-time.
Our goal is to help you raise your business to the point of financial independence.
How Does Exit Planning Work?
The exercise of planning your exit strategy does NOT mean you MUST sell your business. It DOES mean that your business is in order, should you decide to sell.
Step 1 - On-Site Interviews & Assessment
Step 2 - Restructure, Re-Organization Planning
Step 3 - Weekly/Monthly Accountability*
Step 4 - Sale Brokering (Or Acquisitions)
Let's Breakdown What To Expect
Step 1 - On-Site Interviews & Assessment - After you fill out the pre-qualification forms and make the deposit, our team will fly out to your location(s) to meet with your team, vendors, and or contractors. We will assess your warehouse, assets, inventory and process. We will meet with and review your responses to the forms, with you and/or your management team. In this process, we will clearly outline your 1, 3, 5, 10, 15 and 20 year plan and goals.
Step 2 - Restructure, Re-Organization Planning - After completing step one, our team will return home and begin developing your custom "Restructure & Re-Organization Plan". This plan will cover the following topics:
A Current Assessment Summary
Mission and Goals Projection
A Current and Projected Organization Chart
A Summary of Assets and a Projected Assets List
A Summary of Inventory Controls and an Outline for Revised Protocols
A Summary of Workflow and an Outline for Revised Protocols
A Summary of Sales and Marketing Efforts, and an Outline for a Revised Sales and Marketing Plan
A Monthly Mile Marker Schedule for a 1 Year Plan, 3 Year Plan and 5 Year Plan
Step 3 - Weekly/Monthly Accountability* (Optional) - If you choose to enlist us for our weekly or monthly accountability program, you would meet with one of our team members to set goals, review your progress and receive coaching on how to handle any issues or problems that may come up during the process of restructuring and/or re-organizing your business. This is an "accountability" program, designed to help you throughout the process of preparing your business for "exit".
Step 4 - Sale Brokering (Or Acquisitions) - Should you choose to either sell your business, or acquire new locations and expand your business, our team is available to help broker the sell, mergers and/or acquisitions. This means researching possible locations, aligning commercial Realtors, attorneys, corporate listings and potential buyers.
What's My Business Worth?
Selling a business is NOT like selling a home.
There are no comps or a pre-established value.
The most logical way to determine the value of a business is based on "projections".
Projections, simply add up all of your earnings, then subtract your total costs.
What's left is profit.
You simply take that profit and "project" what you would profit over the next 10-20 years.
Now, if you have a great team, you are not crucial to the day to day operations, and your business can prove a history of profits...That may be a compelling story for a would be buyer.
The sales story would be, "If you buy my business for X-Dollars, and do nothing...You could make X-Dollars over the next 10-20 years.
Now, lets add to that story, and say you only have one sales person.
An investor may say, "Well, if they profited X, with one sales person...What would the profit be if I hire one or more sales people?"
There are other factors, such as assets, debt, collections, overhead, and other liabilities.
But the goal is still the same:
Reduce the cost of doing business
Increase your profit margins
Establish a profitable history
Clearly indicate levers for growth
Establish a turnkey acquisition
This is exactly why business owners struggle to part with their company..."If it's making money, why would I sell?"
The answer is simple.
There's no guaranty that your business will be profitable next year.
This is why you "Sell high", buy low".
The perfect time to sell is when you're on the way up!
What If I'm Not Ready To Sell?
Having a plan, does not mean you MUST use it...
This is a great question. And it goes hand in hand with, "Why would I sell my business if it's making me money?"
And, you'd be right!
It's our belief that ALL businesses should have an exit strategy, from day one.
Having an exit strategy has very little to do with actually "selling" your business.
An exit strategy is simply a plan for how your business should be structured, so that it can run without you having to be at a pivotal decision making position, in every aspect of your business.
This is frequently quoted in books as, "Working ON your business, not IN your business".
In most cases, in the early days of running your business, you may be working with a "lean budget"....
And that is totally understandable.
But what happens when your business is actually making good money?
Are you still planning to work as hard as when your business was broke?
The answer should be, "No".
You should have a plan for hiring and organizing your team and business to work and create revenue, whether you are at home or sitting on a beach.
In fact, during the course of restructuring and re-organizing your business, you may find that your business is on auto-pilot.
What if, by implementing a great strategy, you decide to open up another location (or several other locations)?
In business terms, this would be considered "Scaling".
The point is to have a structure and plan.
Now...What if Bill Gates walked through your doors, and wanted to buy your business "today"?
Could he purchase your business?
If he purchased your business, would he be the one responsible for doing the heavy lifting?
Would he be at the center of daily decisions?
If the answer is "Yes".
Then your business is NOT in a position to sell.
Working with us means that you have options.
When you are in a position to sell or scale your business, and you are not pivotal in the daily decision making process..."that" is when you are truly a business "owner".
Our goal is to get you from being a business "operator", to becoming a business "owner".