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A Business Plan Becomes Useless Without Sales
Let’s say you have done the right thing and created a clear, concise business plan before you start into business. You ‘open your doors’, whether that might be in a brick and mortar business, or in an online business. You even get loads of leads and enquiries coming which is really exciting. Then… you realize that you are having difficulty in actually turning your prospects into paying clients.
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Thinking of Buying Or Selling Your Business in the New Year, How is Your Transition Plan?
The process to sell a business is not a quick and easy matter. At the moment it is taking about 8 months to sell a business, if it sells. This means the business sits on the market for about 6 months before finally getting an offer from a buyer. Once the negotiations finish, due diligence commences and closes and escrow opens and closes we arrive at the 8 month period. And this applies if the business sells. Depending on which statistics you read, approximately 75% of businesses never sell.
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Business Plan – What They Really Mean
I often meet new entrepreneurs and an alarming trend among them is that they do not have a business plan. The entrepreneurs that I am referring to usually fall in or around one of the following scenarios:
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If You’re Thinking of Buying or Selling Your Business in the New Year, How is Your Performance Plan?
An area that a lot of businesses don’t spend a lot of time measuring but is very easy, cost effective and critical to do is the key performance areas of the business. These key performance areas or metrics can show whether the business has all the parts working together and in a healthy manner or is in need of a tune up or radical surgery. There are a number of key areas to a Performance Plan so let’s break them down.
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A Business Plan Becomes Useless Without Sales
Let’s say you have done the right thing and created a clear, concise business plan before you start into business. You ‘open your doors’, whether that might be in a brick and mortar business, or in an online business. You even get loads of leads and enquiries coming which is really exciting. Then… you realize that you are having difficulty in actually turning your prospects into paying clients.
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