A winning season usually ends with a trophy, high fives and
a smile for the cameras. But also a
sense of accomplishment and excitement. Do
you want to finish this year with an adrenalin rush of achievement? Then this
20 minute final act of 2014 is for you.
Cashing in at the hand off for most business owners is the definitive
win. Approaching exit or transition with
the confident the business is truly worth what the owners needs to retire,
provide security for family, and leave a legacy, is the ultimate trophy. But how can you
The Bull’s Eye Action
Plan
There are countless ways to build value in a business. But
do you really have the time, energy and resources to implement multiple initiatives? I doubt it.
So what is the alternative? Focus on the bull’s eye. Identify the one highest impact, lowest hurdle
area of your business to build value and focus just on that in 2015. Believe me, it is enough for one year. And if you select the right objective, the
rewards this time next year will be obvious, and measurable.
Step 1: Take Aim at Your Target
Begin by focusing on your target, which is the value you
have in the business currently. Don’t know how to evaluate this? Matrix Value Advisors has developed a quick Value
Drivers Self-Assessment for 11 key value imperatives. You can rate your company on each attribute.
But more importantly you can rate the attribute from your eventual acquirer’s
point of view. How important is this attribute to them? This is critical as your acquirer is the ultimate
value decider.
Step 2: Find the
Bull’s Eye
Score the assessment, then look for the widest gaps. Did you score your Market Position relative
to competitors a 3, but your potential acquirer would expect a 9? Did you evaluate your Management Team a 2
because you still run all aspects of business, but a buyer would expect the
team to manage the company without you, thus rating this attribute a 10? Identifying your gaps will lead you to your
bull’s eye: the one place to focus your value building activities in 2015.
Step 3: Launch Your
Arrow
Taking action is where most plans fall apart. That’s because getting started seems
overwhelming. So I suggest selecting
just one of the following quick start mini-steps:
A. Learn more
about Value Drivers by requesting an in-depth whitepaper at tgillespie@matrixvalueadvisors.com
.
B. Read about
high return value strategies in A
Surefire Tactic to Improve Your Value.
C. Talk to an
advisor to discover how you can achieve your value goals by calling us at 704-451-6178.
Now commit to a completion date within the next 30 days, and
YOU ARE FINISHED for 2014! That’s right,
done! You can confidently end your year because
you will be starting 2015 with a goal and an action step to achieve it. With a
plan comes power, purpose and the excitement of accomplishment. What a way to score
a final big win for 2014!
