Speaker: Myrna Marofsky from redbookllc.com and Terri Krivosha: Masion Law
My takeaway from this breakout session were the factors business owners should consider to prepare an exit strategy for their business.
The four factors to consider when preparing to sell your business are: Strategic, Financial, Personal & Emotional Security, and Operations.
I am going to jump ahead to Operations because I specialize in that area when it comes to bridging the gap between synchronizing people, process, and internet technology.
In this area, they brought up the following points when it comes to organizing your business structure:
1. Invest your time in developing people and letting go of those who cannot keep up (talent).
2. Hiring with succession planning in mind
3. Focused on Business Growth
4. Knowing your options for employee retention
5. Ensuring Operations Running Smoothly
The points presented above reinforces the importance of taking the time to set your business structure so its agile enough to support future growth.
I am sure you are wondering ok I get what’s being said above but how do I get my business….there?
Below are some resources that may help you to understand what elements are needed to structure your business operations and move a step closer to prepare your exit strategy:
How to leverage business process management and internet technology to reinforce
First Steps towards Building An Effective Work Environment
Why you absolutely NEED BPM and how business process management (BPM) can help your
I have additional notes about the other factors presented above and will soon post them as a separate entries.
Written by Valeska I. Jacques, www.uvium.com
Filed under: National Conference 2008 in Arizona | Tagged: bpm, business, business operations, exit strategy tips
Nice writing style. Looking forward to reading more from you.
Chris Moran
[...] knownd wrote an interesting post today onHere’s a quick excerptWhy you absolutely NEED BPM and how business process management (BPM) can help your. business. How to leverage business process management and internet technology to reinforce. accountability. I have additional notes about the other … [...]