More Than A Resolution Or A Goal – Make A Plan!

Well, it’s the first full week of 2015 and there are New Years resolutions abound. Everywhere I look there are business leaders and entrepreneurs setting goals and making resolutions for this new year. I am pleased to find out that there is a very optimistic tone to these resolutions and that just about everyone has goals to make more money this year than in years past. My concern though is that while there are goals and resolutions to make money, almost none of these are accompanied by a tangible and realistic plan to get there. While it’s admirable to set a goal, with no plan to make it a reality, it’s really just a dream.

Many of these entrepreneurs have a goal to sell their business for enough money to enjoy a carefree and financially abundant retirement. Whether your business is in the high 6 figure or even low 7 figure income range it is entirely possible to accomplish this goal this year. So let me give you a tried and true, proven four-step plan to get you there quickly.

Step one is to give your business a marketing makeover. Put in place in your business the foundational marketing pieces that every type of business must have to achieve maximum growth potential such as a website, newsletters, referrals, lost client reactivation, new client acquisition campaigns to name a few. Then, implement advanced marketing systems to build your marketing system into a great asset. Such as writing a book, producing videos, writing and publishing articles and press releases. Do this to maximize the impact of your marketing system and turn it into a tremendous tool of leverage to use so you can buy other businesses at top dollar and still make that price a bargain. Doing this will make your business valuation many multiples higher because you have made your marketing system into one of your greatest and most valuable assets.

The next step is to get your business running on autopilot. In order for the business to run without your direct daily input and guidance, the major parts of the business must be documented and organized. More than a simple operations manual, the systems in your business must be able to provide initial and ongoing training for your staff. It must be able to be easily accessed and used in convenient as well as new and exciting ways. Development and documentation of these systems is not an academic exercise and must be proactively created with the input of your staff at the location where the system actions are being performed. The six major functions in your business that must at a minimum be fully documented are your Leadership, Management, Marketing, Sales, Money and Production Systems.

The third part to this plan is called growth on steroids and is designed to grow your company in multiples of up to five times it’s current level. Growth at this level is accomplished by combining organic growth with acquisition growth. This will allow your business to have growth in multiples much higher than organic growth alone could ever achieve in such a short time period. Acquiring other businesses can be the most viable alternative to grow your business rapidly and could ultimately be cheaper than organic business growth alone. It is the ‘secret sauce’ behind the bulking up of many mega corporations and can take place immediately in your business.

Step four is to get out while the gettins’ good. Now that your business is growing quickly, it’s time to plan an exit strategy and prepare the business for your exit. It is now time for the plan of attack on your secession from the business. Audit of financials, stock sale versus asset sale and many other areas need to be addresses at this time. It is here that you will entertain offers and accept letters of intent to buy your company. Then you close on your sale and you become free of the business to begin the process of enjoying your new found liberated lifestyle.

You can find many more actionable details necessary to implement this plan in your business in my newest book The 8 Figure Exit Formula now available at Amazon.com or in my FREE Kit.