business journal articles
The Wall Street Journal for Entrepreneurs mentions Five Steps for Creating a Business Exit Strategy. Marshall Loeb’s article details the wisdom of John Brown, founder of Business Enterprise Institute, who encourages small business owners to follow these five steps to a business exit strategy: formulate your objectives, put an advisory team in place, hire a business appraiser, focus on increasing cash flow, and assign a transition manager.
For creating a successful business exit strategy, I’d add a Sixth Step to the plan: Add a professional writer and PR consultant to your firm in order to guide you through these additional essential steps to a successful exit strategy.
1. Brand your firm if you haven’t already done so.
2. Revamp your website. Your website is the keystone of your firm and your business face to the world. Websites must contain fresh and timely content and must be updated frequently with content relevant to those searching for it. Not to do so, means that your website may not be found or will lose relevant ranking with search engines.
3. Take the time to create and share a history of your firm. Whether you choose to do a lighthearted or serious approach to the history, you need to create a timeline and historical data marking your appearance on the map, founders, growth and results. You’ll share your reason for being and what you bring to the table for your customers, community and for the future.
4. Celebrate milestone events–founding, anniversaries, project triumph. Share your events with your customers, employees, community and the world.
5. Create case studies and success stories. Show what you have meant in innovation and equity to your customers and associates.
6. Keep hiring top staff. Welcome new talent and provide a venue to tout their success.
7. Create and post press releases documenting company news, milestones, accomplishments and top talent. This is your opportunity to attract and retain top talent by promoting their career highlights, and create, demonstrate and grow equity with the talent bank you will be leaving with the company upon your exit.
8. Be visible in the community. Join with others and celebrate your local participation.
9. Attend industry events (ramp up not down, your attendance)–these people may be the new buyer of your firm. If possible, become a speaker and presenter at these professional showcases. Join roundtable discussions, host gatherings and sponsor events.
10. Adopt and support a charity or philanthropic cause. This demonstrates your financial success and your emotional depth as you recognize your duty to give to others.
11. Evaluate pre-sale mergers and all sound business practices that maximize talent inventories, projects and revenues. Of course, you will inform and have the full agreement with the merger candidate of a later sale before you merge.
12. Take care of morale–make sure that your employees and partners will speak well of the firm and have ample cause to do so.
13. Monitor what is being said about your firm on the internet and elsewhere. Protect your investment and your life’s work by paying attention to the buzz about your company and its products and people.
The Wall Street Journal article notes that for a successful exit strategy you cannot accomplish all that you need to do in a short period of time. The planning and stages will take from five to seven years. Adding a professional writer and PR consultant to the advisory and implementation team will ensure that the process of an exit strategy flows smoothly.
About the Author:
Want more great business advice? For more on creating a successful business exit strategy and to see the work of a professional writer and strategic PR consultant, visit: http://www.freewebs.com/mckernsdevelopment/
Article Source: ArticlesBase.com – Creating a Successful Business Exit Strategy–adding the Sixth Step
Hawking responds to Investor’s Business Journal editorial on U.S. / British Healthcare Systems
|
|
Writing Your Journal Article in 12 Weeks (Paperback) $39.57 Description not available. |
|
|
Marketing 2011/2012 (Paperback) $34.19 The Annual Editions series is designed to provide convenient, inexpensive access to a wide range of current articles from some of the most respected magazines, newspapers, and journals published today. Annual Editions are updated on a reg… |
|
|
International Business (Paperback) $34.19 The Annual Editions series is designed to provide convenient, inexpensive access to a wide range of current articles from some of the most respected magazines, newspapers, and journals published today. Annual Editions are updated on a reg… |
|
|
Annual Editions Economics (Paperback) $34.19 The Annual Editions series is designed to provide convenient, inexpensive access to a wide range of current articles from some of the most respected magazines, newspapers, and journals published today. Annual Editions are updated on a reg… |
|
|
Living Well With Bad Credit (Paperback) $11.11 When bad credit happens to good people there is something you can do about it.No one is immune to today`s economic strife. According to a 2008 Wall Street Journal article, 110 million Americans have bad credit–almost 50%… |
|
|
Investments and Portfolio Performance (Hardcover) $123.8 This book contains the recent contributions of Edwin J Elton and Martin J Gruber to the field of investments. All of the articles in this book have been published in the leading finance and economic journals. Sixteen of the twenty articles have been pu… |
|
|
Global Issues 12/13 (Paperback) $38.36 The Annual Editions series is designed to provide convenient, inexpensive access to a wide range of current articles from some of the most respected magazines, newspapers, and journals published today. Annual Editions are updated on a reg… |
|
|
Get Rid of the Performance Review! (Hardcover) $16 Based upon a startling article in the Wall Street Journal that appeared in November, 2008, Dr. Sam Culbert, a professor at the prestigious UCLA Anderson School of Business and an expert on human relations in the workplace, summarized what most … |
|
|
Human Resources 12/13 (Paperback) $38.06 The Annual Editions series is designed to provide convenient, inexpensive access to a wide range of current articles from some of the most respected magazines, newspapers, and journals published today. Annual Editions are updated on a reg… |
|
|
International Trade and Economic Dynamics (Hardcover) $174.29 Renowned trade theorist Koji Shimomura passed away in February 2007 at the age of 54. He published nearly 100 articles in international academic journals. The loss of this extremely productive economist has been an enormous shock to the economic profes… |
|
|
Marketing 12/13 (Paperback) $38.33 The Annual Editions series is designed to provide convenient, inexpensive access to a wide range of current articles from some of the most respected magazines, newspapers, and journals published today. Annual Editions are updated on a reg… |
|
|
A Guide for the Young Economist (Paperback) $20.35 This book is an invaluable handbook for young economists working on their dissertations, preparing their first articles for submission to professional journals, getting ready for their first presentations at conferences… |
|
|
Entrepreneurship, 6th Ed + Entrepreneurship, 6th Ed Coursesmart Ebook (Paperback) $33.91 Annual Editions is a series of over 65 volumes, each designed to provide convenient, inexpensive access to a wide range of current articles from some of the most respected magazines, newspapers, and journals published today. Annual Editions |
|
|
In Pursuit of Great and Godly Leadership (Hardcover) $16.05 Mike Bonem recently wrote an article for Leadership, the premier journal for church leaders, on “Good to Great to Godly,” in which he explored the issue of how secular insights on business and leadership could or should be applied in… |
