According to national research cited in the State of Owner Readiness Survey (primary research conducted by EPI and its supporting partners), many Baby Boomer business owners are experiencing the next stage in their business’s lifecycle. As these accomplished owners look ahead one, five, or ten years, they see transition, sale, or exit on their horizon. Not a surprising reality, but the concern begins when you look at staggering historical success (or fail) rates for transitioning a privately held business.
It helps to know your value when you set out to grow your value. The Triggering Event demonstrates that correlation and gives you the launch pad from which to accelerate.
You should be able to express your brand promise on one sheet of paper.
Are you dependent on the income from your business?
Define 3-5 strategic capabilities (skills, processes, systems, relationships ) your company needs. Can your staff articulate…
Hunter or farmer? The truth? The company is there to support the hunter.
Doing this as a team exercise improves your ability to create employees who think like owners.
Want big results? Host a company review with management.
Porter’s 5 Forces is a powerful tool for assessing the strengths and weakness of your business