Hi, my name is Danny Creed, and I’m an internationally renowned Master business coach. I’ve helped start and grow many companies in many industry sectors throughout my career, and I can also help your business or corporation. I work with business owners, entrepreneurs, and executives to grow and prosper in any economy. Below is a quick story about a client I helped and what measurables we achieved in a short timeframe.
Every business owner eventually faces the question of whether or not to sell their business. For some, the answer is clear-cut – they want to retire or move on to something new. However, for others, the decision is much more difficult. After all, a business is often a major source of income and security. However it’s important to remember, as a business owner, you are ultimately responsible for the success or failure of your business. If you’re not seeing the return on investment (ROI) you want, it may be time to consider an exit strategy.
An exit strategy is simply a plan to sell your business to another party or the public through an initial public offering (IPO). It’s important to have an exit strategy in place because it gives you the flexibility to sell when the time is right. Without an exit strategy, you may be forced to sell when the market isn’t favorable or when you’re not ready emotionally or financially.
An exit strategy gives you the power to choose when and how to sell your business. My client was facing the question of how to achieve a high ROI after investing in his franchise business and ultimately decided it was best to create a successful exit strategy.
The Issue
My client was a franchisee of a business relying on door-to-door sales, cold calling, and business-to-business selling. He paid $100K as an initial investment in the franchise, but the training and support by the company were minimal. He would have to figure out how to be successful with the franchise on his own.
When my client first approached me, he felt frustrated by the lack of support. He had invested a significant amount of money in a franchise, but the company providing the franchise had done little to support him in making it successful. He felt like he was on his own and wasn’t sure how to proceed to achieve a significant ROI.
The Solution
As a business coach, I helped my client dive into the business and lay out what needed to change for his franchise to succeed. We walked through the Clarity exercise together, which resulted in pivoting in a new direction. Instead of investing more heavily in the franchise, we created an exit strategy and marketed the business to potential sellers. Although it wasn’t an easy decision after my client’s initial investment, it made the most sense regarding ROI. By working together, we were able to create a plan that would save my client time and money in the long run.
The Result
My client had developed a successful exit strategy from the franchise, and as a result, he could sell to another franchisee and get much of his investment back. He could’ve invested further into the business with diminishing returns, but this was likely his best bet. By developing an exit strategy, my client was able to maximize his return on investment and minimize his risk. This is an important lesson for all entrepreneurs: always have a plan for exiting your business. Whether you want to sell it, pass it on to family members, or close it down, an exit strategy will help you get the most out of your investment.
If you’re an entrepreneur in the Glendale, AZ, area, you may face the question of how to achieve the highest ROI for your franchise. I’m Danny Creed, a Master Certified Business Coach, and I have worked with franchise and business owners to maximize ROI through a clear-cut solution. Contact me today to find out how you can get started with the tools you need to optimize your ROI.
CONTACT CERTIFIED BUSINESS & EXECUTIVE COACH DANNY CREED
We are aware of almost every challenge a business owner, entrepreneur, or executive faces in the present day and age. Unfortunately, the change in customers’ behavior combined with the challenges of the pandemic has left many struggling to generate revenue while some are on the verge of closing down.
If you are a businessperson and are struggling to capture the market, attract customers and generate revenues, contact me, Master Certified Business Coach Danny Creed, today. I know how to help you grow, prosper, and return to possibility thinking. I can help. Call or write me today for a complimentary business or executive coaching session.
