aderfp633
Inscrit le: 27 Sep 2011
Messages: 7915
Localisation: England
|
 Posté le: Lun Sep 30, 2013 6:41 pm Sujet du message: Business growth: Game plan for the future |
 |
|
{Business growth: Game plan for the future}
Chris Kassardjian (left) and Frank Kusmer, partners at CK Global Solutions: developing an exit strategy is an excellent way of addressing many of the ‘what ifs’ that could affect a business prior to a sale|Richard LamBy Sean KolenkoTue Sep 10, 2013 12:01am PSTCK Global Solutions founder Chris Kassardjian grew up the son of a very successful entrepreneur in West Africa.Gabriel Kassardjian,[url=http://www.moncler-sale.org]moncler on sale[/url], Chris’ father, was the general manger of large paint company and ran a few small businesses on the side. He employed more than 100 people. And,[url=http://www.moncler-sale.org]moncler down jackets[/url], in true entrepreneur fashion, he had plans to expand his ventures.“Even in his 60s, he was a very dynamic person,” said Kassardjian. “He was still talking about growing the businesses and so forth. He wanted to expand into more projects.” But then he got sick. Within five months of being diagnosed with pancreatic cancer,[url=http://www.moncler-sale.org]discount moncler jackets[/url], Chris’ father had died. The loss was a devastating blow to the family – but the business was affected as well.At 32, Chris became president of the companies – a tall order for the young businessman. Kassardjian hadn’t been trained for the job, nor had others in the companies who were forced to change roles.Then the banks started calling. It was time to pay, but loans to the businesses hadn’t been secured with life insurance. The financial pressure was significant, said Kassardjian.“Not only did I have to face the death of my father, but at the same time nothing was really in place to protect me and the businesses if something critical was to happen to the major owner of those companies,” he said.“It was nerve-wracking,[url=http://www.moncler-sale.org]moncler down jackets[/url], the whole organization was being shaken from the head down to the bottom.”Kassardjian admitted the situation he faced after his father died was an extreme one – not all businesses are rocked by the death of a family member.But his experience got him thinking about the various kinds of risk a business can face and how important it is to develop a roadmap to address those risks and what-ifs.That roadmap, Kassardjian said,[url=http://www.moncler-sale.org]moncler on sale[/url], is an exit strategy. All business owners should draft an exit strategy that outlines what to do in the event of death or retirement of a partner, what insurance policies are needed and when the best time to retire or sell the business is, he said.Frank Kusmer, Kassardjian’s partner at CK Global Solutions, added that many business owners don’t have a realistic idea of the value of their businesses. Many owners let their emotions blind them to the realities of the market. But an exit strategy will give them the opportunity to sell when they can get the most for the business.“You can’t always retire when you want. The market doesn’t care when you want to retire. Maybe the best time to sell is now. Maybe it’s in four years. A detailed exit strategy will help you understand that,” said Kusmer.“Everyone in business should have an exit strategy. Even if you plan to be in business for the next 15 or 20 years. In that case, you can include in your plan your plans to grow the business. In business, with so much at stake – time and passion and money, you owe it to yourself to do it.”In addition to helping owners visualize various aspects of their business, a detailed exit strategy also includes displaying the financial history of a business in order to give prospective buyers a better look at the business they are considering purchasing.Stephen Curran,[url=http://www.moncler-sale.org]moncler sale[/url], managing director of transactional advisory firm Sableridge Capital Partners,[url=http://www.moncler-sale.org]moncler outlet[/url], said it’s critical to display as much information as possible about a company because savvy buyers will do their due diligence. Any surprises during the selling process should be avoided.According to Curran, those interested in selling their business should highlight: a track record of consistent growth,[url=http://www.moncler-sale.org]moncler sale[/url], between three and five years of financial history, any long-term contracts with clients,[url=http://www.moncler-sale.org]moncler outlet[/url], the business’ legal makeup and the management structure detailing the expertise of each of the company’s executives.Prospective buyers will want to know that there are managers in place that can take over other roles in the event of a sale,[url=http://www.moncler-sale.org]discount moncler jackets[/url], Curran added.“That’s the approach. Someone who has been running their business for years and years probably doesn’t know the process and to show this information. Sellers sometimes need help,” said Curran.“Present the information, make it clear. You want buyers, at the end of their due diligence, to say ‘yes, we are getting what we thought we were getting.’”•Tags: fashion, loans, West Africa, entrepreneur
_________________
People watching the forthcoming beginning of the German half of the inhabitants of Berlin are no interested in co-optation |
|
