Before you make that next deal, or as you start and/or continue with your growth plan, you should ask yourself a few vital questions surrounding growth and building value:
- Do I have synergy among my management team and leadership?
Teamwork and management synergy is imperative to business succession simply because you as the franchise owner cannot do it all.
- Do I have the excess capital and resources that growth requires?
For example, looking at where your business stands compared to your competitors, ensuring your franchise and employees are working as effectively and efficiently as possible, and how your business is prepared for the future.
- Do I have the confidence that my successor(s) will be able to manage what I’m building?
Communication of your goals and priorities to all those involved in the business is critical.
A great deal of your business value is locked in the resourcefulness, commitment, enthusiasm, and teamwork of your management team.
Click the following link to read Kendall Rawls’s post on the Multi Unit Franchising’s website titled: 3 Questions To Ask About Growth And Building Value In Your Business
Read the article and then contact us to get some insights on your own scenario. Even if you don’t become a client, a few minutes with us may help you save years of headaches. Contact Us
Business value is tied to performance. Top talent, strategic vendors and creditors will be influenced by the organizations competitive advantage in the market place. Traditionally, transitions generally bring with it a drop in profits. It is crucial that your business is operating at peak performance in order to fulfill cash flow needs and expectations during times of transition.
Click the following links for more drill down resource on Business Performance.
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