✈ December 21, 2016, Avicor Aviation Inc.
You have your end goal-sell your business, pass it on to employees, get your share bought out by other shareholders…in any case, you have your end goal and you have determined what general factors need to be in place to make it happen.
Now what is going to take to get from here to there?
Where is here anyway? If you were to make the transition today, would you really know what your business is worth? And along the way, in order to know if you are really making progress towards your goal, you need to know where you started from. Having your business valued can establish that starting point. It's difficult to know how to get from here to there if you don't know where you are starting.
Whatever your end goal is, reaching that goal is going to take a number of steps. Some of these steps will likely include:
Make a list of the steps as you see them. At this point, they can be broad objectives with a loose timeline all targeted towards reaching your end goal.
Many businesses survive from year to year with little or no growth, doing the same thing, rarely changing or adjusting to the market. Then there are those that you notice. The ones that make their mark. Those businesses got where they are because someone put a strategy in place. Whether it was one person or a team, a plan was made that considered many aspects of the business and how that company's goals could be achieved.
Each step taken will be towards the goal of increasing the value of your aviation business.
Over the next several months, we will be exploring ways that you can add value to your business. Increasing sales will be one of the topics we discuss, but there are many other ways to add value to a company. Next in this series-Your End Goal: Breaking it Down Part III.
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