The following factors determine a successful sales plan:
- Identifying ideal customers
- Formulating USP
- Studying the market territory
- Knowing your competitors
- Sales expectations
Be realistic in preparing sales expectations and never let them drop so low that when the business reaches the target, it will find itself out of business.
Exit Planning
Exit strategy is yet another part of the business planning process. It is a holistic approach to crafting a strategy for an individual to quit his business, and get the maximum benefit for one life’s work. Failure to plan appropriately can prompt an individual to part with his business or end up getting up a little sum.
It aims at bailing out the companies at some point before they perish. Some perceive exit strategy as a negative phenomenon. In reality, the perfect way for an exit planning strategy is to plan how to optimize a good condition, rather than coming out of a bad one.
This allows the company to run its startup and build efforts on things that make it more engaging and compelling to the short list of takers or buyers the company targets.
The type of business you select should focus on your goals, and the manner you grow it should be linked with your exit planning strategy. Avoid waiting till you are in a difficulty to think about an exit, rather perceive it as a successful transition.
Why an enterprise needs Exit Planning?
There are two principal and practical reasons why an entrepreneur needs to plan an exit:
- Entrepreneurs are fascinated with the art of the beginning. Assuming an entrepreneur’s new venture takes off, he/she may find the fun is evaporated by the time he reaches 50 headcount. The job transforms from developing a “work of art” to operating a “cookie cutter”.
- Outside investors desire to their return. Always bear in mind that equity investments are not like loans with interest. The investor does not get to see any return until he cashes out, or the company is laid off. Even three years is a pretty long period to wait for any pay check.
Cogent Analytics facilitates enterprises with the most important decision of their business lives – the plan to leave their businesses. It ensures the transition between the transferor and the new owner takes place in a smooth finish, thereby making sure that your exit is successful and your objectives in the post life are achieved.