At GrowthSolutionHub.com we have simplified what many have overcomplicated for too long. We are here to bring the knowledge and best practices utilized by Fortune 500 & 1000 companies to small and medium sized businesses that drive our economy and create jobs for ordinary people.
To the entrepreneur, the successor who wants to grow the family business or those businesses who just know they want to grow, WE ARE HERE FOR YOU.
We don’t just implement a strategy or process because it works in other businesses. We analyze where your business is and why. Then, together, we can develop the best growth strategy for your “Brand” moving forward.
GrowthSolutionHub.com is the brain child of consultants from a Growth Strategy Consulting Firm established in 1981.
Most businesses are created in effort to rid the founder of one or more pain points. These pain points might include: no chance of a promotion or salary increase, don’t like the boss, missing spending time with the kids and life partner, no time for hobbies, etc.
Businesses should be created with the end in mind, the same way we do everything else in life. We know the end when we: take a vacation, board a plane, run errands, go on a date, buy a computer, go to a gym, etc. We generally know what we are going to do and why we are doing it, why it is important to us, why we are motivated to do the thing. So we know both the beginning and the end of what and why we do things.
Building a business should be the same way, we should enter into the venture with an exit strategy already in place. When we know the end-result of building the business we can reverse plan to get there. When we fail to plan, we plan to fail.
The key to success in anything and everything is systems. Systems always have two components. The first component is the processes and technology that answer the questions: who does what, when do they do it, where do they do it, how do they do it, and what training do they need to master those things?
The second component provides the climate, the nutrients, the why, the purpose and therefore the reasons and motivations for people to want to do what needs to be done to achieve what needs to be achieved and achieve the reason for the business’ existence.
The person or entity who is your ultimate customer is the person or entity that helps you achieve your exit strategy. That, in most cases will be the person or entity that buys your business, takes over the family business, or helps you take it public.
When starting a business it’s important to think clearly and plan for how you will exit. This sounds obvious but is something many business owners don’t think about until it’s too late.
How’s it going to end? Who will your buyer be? Why will they buy your business?
Will they buy you out for your customer base, for the revenue, or for the intellectual property? How will they get a return for their investment?
Answering some of these questions will help you determine exactly who your buyer is and why they would buy your business. It’s crucial to think about these things at the beginning because the answers will help you shape exactly how you engineer your business and what you focus on.
If your goal is to exit a business for $50 million then everything you do in your business can be framed with the question – will this help me get $50m? Our goal at the growthsolutionhub.com is to help our clients achieve their personal goals by achieving their business goals, since “personal goals drive business goals.”
This is why it’s so crucial to structure things in a way that ensures you’re on the receiving end of a big pay day rather than faced with the realization that your years of hard work end with a business having no value to anyone but you.
The number one thing the person or entity, who buys your business, will be looking for is whether you HAVE a business or whether you ARE the business. And the difference between the two is huge.
If your business can’t be operated without you, then it’s not a saleable asset and you’re stuck – regardless of how good or profitable it is.
That’s why it is of such critical importance to do what is laid out below:
Having good business systems is what enables the business to run without you and makes it worth something of value to a purchaser. Structuring the business with a logical acquirer in mind is smart and it’s something that is attractive to investors. It shows them a clear path to exit and get a return on their invested capital.
But what if you don’t want to sell and you say; “I love what I’m doing and I don’t intend to sell.” That’s great if what you love doing is making you a good income – relatively few people enjoy such a lifestyle. When, not if, that time comes and you do decide it’s time to sell, you want to be able to walk away with a check that has a lot of zeros on it, rather than no check.
You need to start with the end in mind. Start thinking about your ultimate customer and what would motivate them to write you that check which becomes your biggest pay day.