Category: Free Content

DGP’s Top 10 Areas To Address For Business Growth Or Exit

Business Growth

1) ENSURE BUSINESS GROWTH BY CREATING A VISION & STRATGIC PLAN:

  • Create clear and well-articulated Mission, Values, and Vision statements. These things are fundamental for business growth.
  • Create a well-articulated strategy statement documenting your competitive game plan and how you will attack your market.

2) ENSURE LEADERSHIP TEAM IS HEALTHY, ALIGNED & EMPOWERING TALENT TO PERFORM:

  • Team members feel comfortable participating, understand each other’s differences/styles, and engage in healthy debates.
  • Leadership team empowers and motivates talent to optimal performance and meets frequently as a team for strategic thinking sessions.

3) ENSURE ALIGNMENT & MEETING CADENCE:

  • Ensure the critical KPI’s and priorities to drive the company forward are established and staff roles & goals roll-up under each priority.
  • Ensure a meeting cadence and visible performance charts are established to ensure information flows through the firm.

4) IMPROVE QUALITY OF PEOPLE & ENSURE ACCOUNTABILITY:

  • Assess your team. Build a strong engaged team modeling your core values. Ensure the right people are on the bus and in the right seats.
  • Ask yourself, can you take a 2-week vacation without checking in and feel confident that the company will run smoothly without you?

5) ENSURE BASIC REVENUE GENERATION ENGINE IS IN PLACE:

  • Create a defensible and well-articulated Go-To-Market (GTM) strategy that is validated with a realistic financial model and forecast.
  • Ensure the GTM strategy is executed and generating revenue without the founder as the primary marketing and sales resource.

6) IMPROVE PRODUCT/SERVICE DIVERSITY:

  • Issues with a product/service can cause sales to drop off quickly; ensure product quality and diversity to reduce risk to revenue and maintain business growth.
  • Cultivate product variety, mix, brand names, and intellectual property with a goal to increase customer average order size.

7) IMPROVE QUALITY OF EXISTING CUSTOMER BASE:

  • Rollout Net Promoter Scores. Act on VOC feedback. Nurture “sticky” relationships via contracts/subscriptions & frequency of reordering.
  • Ideal customer concentration = 1 customer no more than 10% of sales. Top 3 to 5 less than 40% of sales, if possible.

8) IMPROVE EBITDA / CASHFLOW GENERATION:

  • EBITDA is used to help assess the cash generation engine of the business. Cash is oxygen for the business and needs to be plentiful.
  • EBITDA is also used to value a business, so maximizing EBITDA will help maximize the value of your business.

9) IMPROVE QUALITY OF PROCESSES & TECHNOLOGIES:

  • Higher quality processes and infrastructure helps ensure a business runs efficiently and “under control”, especially when scaling.
  • Prioritize core processes, systematizing ad hoc/“tribal knowledge” activities and automate high impact / low difficulty projects first.

10) ENSURE CLEAN FINANCIAL STATEMENTS & REPORTING:

  • Audited financials will give you, investors, and/or a potential buyer confidence that your numbers and reports are accurate, reducing risk.
  • Regularly reporting, reviewing, and acting on KPI’s will help ensure you execute your plan and accomplish your strategic objectives.

Interested in learning more about these topics?

Call (855)-434-7552 to register for our next FREE Webinar where we’ll discuss these topics and answer questions.

We look forward to hearing from you!

Free Consultation

Schedule a Free No Obligation Call & Meeting

Scroll to Top