Review of external environment including an industry analysis Opportunities Threats Focus your strategic plan on capitalizing on the strengths and opportunities; managing the weaknesses; and dealing with or minimizing as much as possible the threats. I conduct a SWOT analysis in my business annually. From time to time, I have asked a valued client to spend half an hour with me identifying what he or she feel are the strengths and weaknesses of the business.
An exit strategy is a way to turn you operation over to another entity or to cease operating altogether. Liquidation Businesses that are struggling to survive may choose to liquidate their assets.
A common example of liquidation is the "going out of business sale. Any proceeds are used to pay off creditors, and then to any shareholders you may have. Friendly Sale A business owner may choose to sell her enterprise in order to retire or use the proceeds to start a new venture.
This often occurs in family businesses where the operation is passed from one family member to another. In these situations, the seller takes comfort in knowing that his venture will operate in the same way that he conducted the business.
The Lifestyle Company In a lifestyle company, the intent of the owner is to make as much money as possible for herself without planning for future expansion. All profits go directly into her pocket instead of being put back into the business to help it grow, and expenses are kept to the bare minimum.
These businesses tend to be private and small in scale, and the owner dissolves the operation when it no longer is profitable or the owner wants to move on to a new venture. A common example of a lifestyle company is a business consulting firm.
Mergers and Acquisitions With a merger or acquisition, the owner sells the controlling interest in the business to another party but may still assume a smaller role in the day-to-day operation.
This strategy is often employed by an owner who wants to leave the business gradually without selling it outright.
However, the owner may be powerless to prevent changes to the operation that he feels are not in its best interest. This can be highly profitable for the entrepreneur and investors, as this can generate a large amount of revenue in a short period of time.
However, an IPO is a rare occurrence, as the Entrepreneur website indicates that there are only about 7, publicly-held companies in the United States as of References 2 Fast Trac: Typical Exit Strategies About the Author Chris Joseph writes for websites and online publications, covering business and technology.
Photo Credits exit image by Joseph Pierce from Fotolia.Nov 12, · An exit strategy is a method by which entrepreneurs and investors, especially those that have invested large sums of money in startup companies, transfer ownership of their business to a third party, or by which they /5(7).
b) A Sample Test Plan Document for Internet Banking Application. 1) Test Plan ID: IBS_ST_TP_ 2) Introduction: It is System Test Plan for Interment Banking System, internet web application, provides access to Account holders and guest users from any ware in the world.
business - Exit Strategies for Your Business - adriaticoutfitters.com you have to make sure you have an exit strategy, a way to get the money back out.
For those of you who like to plan ahead--and. Quick links. Best strategies for exiting a business. Preparing for exiting the business. Real world business exit examples. Exit planning services. This article is intended for small business owners who may be considering an exit within the next years.
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