Do you have a plan for your retirement? Does this plan involve selling your business? Do you know how many years it is until you can afford to sell?
These are questions which are considered too rarely and at the same time, quite often avoiding these questions often leads to disappointment.
Business value gap analysis is a simple process of determining your retirement income and asset needs, your business value (current and future) and strategies to improve business profit and wealth.
If your business value gap analysis reveals a shortfall in business value then you will need to implement business strategies to improve your profit before you sell. For example, improving your average sale per customer will increase sales, gross margin and net profit. Knowing what your business value needs to be means you can calculate your future profit, gross margin and sales targets. Value gap analysis provides business owners and managers with peace of mind from understanding the direct connection between business value and a future standard of living at retirement.
You might think that this process is only suitable for large businesses or business owners approaching retirement. However, your business and your retirement are about YOUR needs. It is important to start strategic planning with the assessment of your needs to make sure that the point of most concern in the business, for example cash flow, pricing etc, are addressed first. It is also important to have a view from outside your business and see the big picture, that is, to make time to work not only IN your business but also ON your business.
We have a variety of solutions for businesses of all sizes and stages of growth and, most importantly, we build our solutions based on your needs and tailored to your requirements and goals. Call our business advisors to arrange a free needs assessment meeting and start improving your business!