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“Succession Planning For Your Business – Better Now Than Later!”
Do you, as a business owner, have a succession plan or exit strategy for your business? Do you, as an employee, know if a succession plan or exit strategy exists in your company or organization? This subject is one of the most critical aspects of owning and managing a business, yet it is also one of the most neglected aspects. Many business owners spend years and years building and growing their business, but without giving any thought to an exit strategy. An effective and smooth exit requires very sound planning several years in advance of the actual exit from the business. The exit strategy must be part of your strategic planning process and a specific long-range goal within your strategic action plan. This type of sound planning will prepare the business for new ownership and for the owner’s financial security afterwards.
A Strategic Look At Why You Should Develop A Business Exit Strategy Now!
Do you have an exit strategy for your business? I ask many prospective clients that question and find that too many do not have an exit strategy or plan; others have one that is not adequately funded or has no risk management built into the plan; or they have thought about it but never did anything about it. Michael Gerber, in his E-Myth books tells us that we create a business to sell it> Otherwise, we own a job not a business. So, I would say that whenever you create a business or something else that's interesting and useful, you create something that's worth selling. And subsequently, when you're thinking of selling a business, which is very important to you and your future well being, then it's critical to have a well-developed plan firmly in place. I have found that all strategic exit plans should identify the following:

A Strategically Structured Outline For Business Succession Planning From Your Strategic Thinking Business Coach
One major question I ask business owners is: “Do you have a succession plan or exit strategy for your business?” I also ask employees: “Do you know if a succession plan or exit strategy exists in your company or organization?” My experience has more than 90% telling me they have no succession plan or exit strategy. Succession planning is a critical factor for the long-term success of any business. Leadership transitions in business affect the entire organization’s continuity, employee retention, client retention and returns on investment. It is essential to create and implement a process that creates visibility, accountability and greater integration of all facets of the business. Your Strategic Thinking Business Coach has developed a strategically structured succession plan outlnine and shares it in this article.
Making A Strategic Plan Work For You
Most successful companies have a strategic business plan. This plan provides a frame work that the senior executives use to move their company forward. Wikipedia defines strategic planning as " an organization's process of defining its strategy and making decisions on allocating its resources to pursue this strategy, including capital and people. "

You Know What You Want to Do With Your Business – So How Do You Do Achieve It?
Business Marketing Strategy or knowing where you want your business to be next year and what steps you should take to achieve these aims. A business marketing strategy or strategic marketing plan is your overall plan of the marketing actions you intend to take in order to accomplish a specific goal for your company. So how do you define yours?

Now is the Time to Plan for 2010!
I am totally blown away by the many business owners who do not actually have a business plan. We know the quote "Those who fail to plan, plan to fail." However, with every client that I coach and consult with one of the first things I ask them is what goals do they have for their business. The business strategy plan is the tool that will help you stay on tasks. It is basically your compass to make sure that you are reaching your goals.
Business Plan Service Cost and Process
When starting a business up or expanding a current business the most important thing to have is a business plan which can be a rather large undertaking in itself. With all that you will have to do in regards to setting up or expanding your new business, writing a business plan and then executing a marketing strategy for that business plan is probably the last thing on your mind. However, having a well written business plan is vital in order to do anything financially such as secure loans or have vendors work with you.
A, B, C's of Execution
The anchor of any execution plan is your organization's strategy; it informs and drives every tactic and activity that people are engaged in. I see too many organizations executing a number of tactics with no strategic plan or context to give them meaning. So, before describing what 'good' execution looks like, make sure you have a strategy to lean on. If not, go back to square one and create one. In addition, when creating your strategy, spend significant time on thinking through implementation. Avoid the trap of spending 80% of your time on the essence of your strategy and 20% on execution. Reverse your focus and spend 80% of your time on executional planning.

Strategic Planning - Business Executive Essentials - Part 2 of 12
In part one of this article series, we acknowledged the ongoing quest of business executives wanting to improve their company's performance by laying out a better business plan and strategy. We began the journey by examining the benefits strategic planning brings to business organizations, then explored a number of common factors that can get in the way of a strategy ever coming to life when it is time to execute. In this article segment, we will delve into the elements of a successful strategic plan.

Management and Business Plans
In addition to being a strategy planning document and a roadmap to success, a business plan is also a living-or “evergreen”-document that functions as an evolving management plan. Included in this article are a review of eight key elements in a comprehensive business plan and a look at how a good business plan functions with regards to business definition, competitive differentiation and strategic goals.

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