News & Insights
Five Questions for Telecom Companies to Think Strategically About Your Growth Plan
July 14th, 2021
Studies have shown it is expected that over the next several years, many businesses considering to sell will either not be ready to close a sale or will need to make significant concessions at the time of the sale. Many owners are unaware of the value of their company or wait too long to take action to increase business value. It is estimated that less than 10% of businesses will sell at or above their book value.
Gaining a better understanding of your company’s business value and implementing an effective plan to increase your future business value will allow your company to thrive, survive, and set your company up for future success. Understanding and addressing the strengths and weaknesses in business functions can help you focus on your business’s effectiveness, improve profitability, reduce overall risk, and maximize value. Here are some questions to consider to set your business up for success today and into the future:
- What defines growth for your company? What will things look like when you get there? Growth can come in different forms and is a significant factor in what you want your company to look like in the future. For example, is your company’s growth defined by the number of customers, overall revenue, or another factor? Defining growth will help you to set your goals and plan for improving business growth.
- What will be the milestones along the way? Setting milestones or goals will help keep the company on track to meet future growth goals. The goals or milestones should be specific and measurable. How will you measure those milestones? What will progress look like?
- Are there any obstacles, or key barriers, that could hinder your company’s growth? Obstacles can be both foreseen and unforeseen and could inhibit the ability to move forward with your plans. Do you have a plan to address these obstacles? Are there any issues that may provide a new approach to obtaining your growth goals?
- What are the most critical issues affecting your company right now? What are the issues your company is dealing with now? Which are on hold? What has not even been considered yet? What breakthroughs might be possible by addressing or resolving these issues? Have you developed a process to deal with these issues?
- What is the strategic plan for services or products today, five years from now, and ten years in the future? Are there new market opportunities the company could create or capture by developing new skills or applying current skills to different problems? Where do you envision your services and products years from now? Will they remain the same, or will the company provide new services or products? Developing a roadmap for your services and products can help ensure the durability and future of your company, and new and existing skills can be a source of significant growth in new markets or if applied to a different set of problems.
What’s next…? Do you know what drives your business and what it will take to continue increasing your company’s value and success? Maner Costerisan can help. Our expert team is comprised of a Certified Value Growth Advisor, CPAs, and other professionals, that can provide you with a roadmap to improve the understanding of your company’s current business functions and increase its business value.
Don’t hesitate to contact us if you have questions or are interested in learning more about Maner Costerisan Value Growth Services. We are here to help.