Business Owners…what’s your end-game?

Richard Morgan CMC, FIMCCertified Management Consultant

Since 1989 - 972.931.7993www.morganmarketingsolutions.com

What’s your end-game?

How do you want your participation in your business to end?• Pass on to relatives-create a retirement plan with your equity?• Sell to a partner or management team?• Sell to a new investor for BIG BUCKS?• Create an ESOP-let employees buy business from you?• Liquidate business and retire on that nest egg?

Just wanna’ get away?Know end-game before planning the future

Work back to the present, maximize Co. value

Balance is a unnatural state

Many factors cause imbalance that management must cureWhen you are seriously imbalanced, you can’t profitably grow So, maintain reasonable balance as a key strategy for growth

Stay alert for imbalances

• Maintain timely operating statements• Monitor sales, variable costs, and fixed expenses• Act fast to correct negative trends-protect profits• Compute break-even point each period

Balance resources Physical – Human - Financial

Balance functionsMarketing/Sales – Operations – Finance/Admin

Lofty vision for future

Develop & communicate owner’s vision What? With whom? In what way? How far? How fast? In which direction?

Avoid confusionKeep team informed of resultsCommunicate expectationsKeep team actively involved

Right actions…right now!

• Management team must set action plans• Outside facilitator brings a process and helps implement the plan• Three days delivers 1-2 year action plan!

What’s your end-game?

For every end-game, you’ll need:• Vision for the future • Balanced company Adequate resources Mutually-supportive functions• Knowledgeable, informed team• Clear plan of action & improvement

Still wanna’ get away?Determine your end-gameAccelerate balancing and planningDon’t delay longer. Act right now!