Establishing the value in your business involves more than looking at money and profits.
You need to be mindful of your competition.
One tool we use when working with franchise owners is our Business Performance Checklist.
In order to ensure you are focused on building value in your business and protecting that into the future you must:
- Determine business performance goals for your franchise
- Adjust resources and/or business performance expectations
- Add to your Succession Planning Action Agenda the items for achieving business performance expectations
Above all, you need to take into consideration all areas of your business and ensure you understand the importance of building this all into your succession planning goals.
Click the following link to read Kendall Rawls’s post on the Multi Unit Franchising’s website titled: Business Performance Is A Key Factor for Succession Success
Read the article and then reach out us to get some insights on your own situation. Even if you don’t become a client, a few moments with us may help you save years of difficulties. 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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Contact us and we can help you with insights, other resources, and see if it makes sense to work together. At the very least, in 30 minutes, you may get some ideas you can apply to your business right away.