When many business owners start their company, they do not think too much about what their ultimate goal will be. It is perhaps understandable at a time you are focused on the many competing priorities you need to deliver to successfully grow your business, that thoughts about the end of the journey and what you ultimately want to achieve from it are put to the back of your mind.
What do you want to achieve?
However, once you have an established business, and have achieved a certain level of growth and success, it is worth taking time to consider what you ultimately want the business to deliver for you in the future. Some owners are happy to have a lifestyle business that delivers a good level of income while they are running it, others want to build something which will provide a good pension or can be passed on to the next generation, while others still may want to build something with sustainable value that can be grown and sold to provide a significant capital event.
Key events such as the need to plan for succession, an approach from a potential buyer, or the need to attract growth funding or further investment can also be a catalyst to look at your ultimate goals or exit.
How can we help you meet your goals?
Whatever your situation it is wise to identify what you are aiming for as early as possible, to enable you to identify what you need to put in place now and in the future to maximise your opportunity to achieve this.
BHP Consulting can help you define your ultimate goal, advise on the elements you will need to consider and the actions you will need to take.
Our ‘preparing for a major change’ support package includes;
- Working with you to analyse what your ultimate objective will be, given your personal and other shareholders’ aspirations.
- Advising on the suitability of your business for different types of exit or for attracting funding or investment, given its development to date, structure and future potential.
- Assessing how well your business is currently positioned in order to achieve your preferred goal, and identify what needs to be put in place, short and longer term, to achieve this.
- Our result orientated approach includes;
- Analysing and improving current business performance and effectiveness.
- Getting your ‘house in order’ (assets, IP, infrastructure, systems and processes, locking in customers and employees, compliance).
- Market position and differentiation.
- Future growth strategy.
- Identifying (and maximising) where the real ‘value’ in your business lies.
- Better understanding of your financial position.
- Management capacity and succession planning.
- Identifying who you’re targeting (potential acquirers, funders, advisors).
- Key milestones.
All of our Consultants have successfully led and grown their own businesses. Their practical knowledge and understanding enables them to give ‘real world’ support to our clients.