At Twelve Points, we believe in 360-degree guidance for business owners. Here’s a cautionary tale with a crucial lesson: Mark, a tech startup founder, was laser-focused on rapid growth. His company was thriving, but he neglected long-term planning. When an unexpected acquisition offer came in, Mark realized he wasn’t prepared. The due diligence process revealed disorganized financials, undocumented processes, and an over-reliance on his personal network. The deal fell through, leaving Mark with a wake-up call about the importance of holistic business management. The trick to turn this potential treat into real success?
- Implement a value acceleration strategy from day one
- Develop a clear exit plan, even if you’re not planning to sell soon
- Document all processes and ensure your business can run without you
- Regularly assess and improve all aspects of your business, from operations to customer relationships
- Build a strong leadership team to reduce key person risk
Remember, true business value isn’t just about current profits—it’s about creating a sustainable, transferable enterprise. By adopting a 360-degree approach to your business, you’ll not only accelerate its value but also be prepared for any exit opportunity that arises.
Reach out to our team here at Twelve Points Business Advisors to discuss adopting a 360-degree approach to your business today!