Business Evolution: Phases and Strategies for Growth
In the journey of business evolution, understanding the phases from start-up to exit is crucial. Explore strategies for accelerated growth, exit planning, and tips for both sellers and buyers. Learn how to assess your business model, innovate, and prepare for the next steps. Whether you are a founder, owner-operator, or entrepreneur, discover key insights to keep your business thriving.
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Presentation Transcript
Star Model5 Phases Business Evolution What Great What Great Business Is No Business Is No One Creating? One Creating? Were Growing Were Growing Fast. How Do Fast. How Do We Keep UP? We Keep UP? 3 Start up 2. 6. What do I What do I Really Want to Really Want to Do Now? Do Now? Accelerated Growth What s Next Which of the 5 phases Is Your Business In? Your Business Is Your Business Is Stuck or In Trouble Stuck or In Trouble Exit 5 4. Turnaround 4 Reinvention Reap Windfall Reap Windfall Profits Profits Business Business Model Model Innovation Innovation Jay & Robert
Stage 5. Exit Stage 5. Exit
Three customers Three customers For founders of venture funded high tech start ups looking for a windfall For 50 or 60 something Presidents, owner operators who want to cash in and do something different For 30 or 40 something entrepreneurs who want to leverage the founders business, customer base, relational capital
Five Steps to Exit Five Steps to Exit 1. Look at your business as an investment, rather than just a source of income 2. Build an asset by investing in improving your business just milking the cow 3. See ways to improve upon your strategy or business model so as to make it a more tantalizing offer 4. Build processes that are missing so as to ever an integrated end to end value chain that matches your business model 5. Apply digital technology or other technology to improving your business
5 Tips for Sellers 5 Tips for Sellers Get clear about your own goals and priorities at this stage in your life Lead the life you want Have your business evaluated to see what its worth and to get ideas for improvement Decide whether you want to sell off the business, or maintain a share of it for a monthly fee Make sure new potential owners is a person of rock solid character, people oriented, strategic, process oriented. Re-assure employees Exercise full disclosure to buyers or the deal may well blow up in your face
5 Tips For Buyers 5 Tips For Buyers 1. Get social! Network with PE, broker lawyers, and M&A to find deals 2. Do your due diligence before you get too excited 3. Perform your own business valuation 4. See if you can transform the business model with a better or different customer value proposition. For example dry cleaning 5. Look for ways to dramatically improve the business such as process improvement, driving digital transformation
