Buying a Small Business in the UK - A Quick Reference Guide

S = Strategy and Sales According to the Institute of Directors, over 80% of SME's in the UK have NO written down business plan. In my experience, this is why so many fail in less than 5 years. We don't want that to happen to you. So, it's critical to start with a clear scale-up strategy that gets everybody on the same page. It also needs to drive sales growth. Without a clear written down strategy for growth, every idea will seem like a good one. The key to a good strategy is it helps you know what to say “no” to as you grow so you stay focused. Your Strategic Plan should cover the following 7 areas:

• The Vision and Values • The Mission and Metrics

• The Dream Customer Clarity • The Key Marketing Messages • The Customer Profit Model • The Team Dynamic Org Chart • Your 12 Week MAP (Massive Action Plan)

The timeframe of your growth objectives will differ depending on if you’re buying a business turning over £250K or £5m. But this framework with help you and your team stay on track. Set clear goals and use your strategy to navigate uncertain economic times. Remember Sales happen when potential clients, get to know, like and trust you. Only then will they be open to transacting with you. Add value in advance. Play the long game. Build relationship depth and create irresistible offers people feel crazy saying no to!

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