directedfocus

If so you need to ask yourself five questions:

1. What is the current business value?
2. What is the business value needed when you would like to sell?
3. What is the period before you can afford to sell?
4. What is your profit target now and in the future?
5. What are your growth strategies?

If you don't know the answer to any one of these questions, then you would benefit from discovering what your business value gap is.

What is a business value gap?

If you re read and answer questions 1 and 2 above you will have 2 answers, the “value gap” is the difference between what your business is worth today and what it needs to be at time of sale.

Bridging the Gap

Building a “bridge” involves three core steps

• assessing what the gap value is
• assessing what the current potential of your business is
• establishing a planning process and implementation strategy to move the business forward.

Time is the critical factor

The hissing fuse in the process is time. If the transition process is not commenced early enough then it may not be possible to build a bridge in the time required.

Then what?

Begin your transition plan today, not next week, next month or next year.