Recommend
Print

Management

Start figuring out where you will be in three years time

By Taskmaster
Wednesday, 08 August 2012

Taskmaster This article first appeared on August 17, 2011.

 

Today we’re going to start a process that might take you months to finish. But it’s important to keep coming back to when you’ve got a spare moment, because it will decide how your company should be run.

 

The task is simple – figure out where you want your company to be in three years.

 

I know, I know, it sounds like something you ask people in a job interview and they always answer badly.

 

But having even a rough idea is extremely important. Do you want to be twice your size? Do you want to stay small and increase profitability? Do you want to see your business sold for a big price?

 

Once you’ve decided on the goal, you can start working backwards and filling in the gaps.

 

If you are intent on selling, you’d better ensure you are constantly prepared to show your wares to a buyer.

 

If you want to double in size, do you need to do an acquisition? If so, you’ll need to start scoping the market for potential targets.

 

Get your team involved in this task to make sure you are on the same page. Indeed, you may want to have a strategy day to work through the issue in detail.

 

Get it done – today!

Did you like this article? 

Sign up to the StartupSmart Newsletter to receive a daily news wrap-up straight to your inbox AND a free eBook!

Invalid Input

Comments (0)

Subscribe to this comment's feed

Write comment

smaller | bigger

busy
SmartSolo-Tile
Invalid Input
 

Follow us

StartupSmart on Twitter StartupSmart on Facebook StartupSmart on LinkedIn StartupSmart on Google+

Subscribe to StartupSmart RSS feeds

Sponsored Links

Our Partners

SmartSolo sign up
 

Private Media Publications

Crikey

loading...

Crikey Blogs

loading...

Smart Company

loading...

Property Observer

loading...

Leading Company

loading...