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SOURCE: Newport Board Group
Private companies face many challenges in today's economic and political environment. There are three key strategies that CEOs should adopt in 2013 in order to turn those challenges into opportunities.
San Francisco, CA (PRWEB) January 28, 2013
Running a successful business is like getting to the Super Bowl. It takes leadership, teamwork, great players and most importantly, the right game strategy.
According to a survey by RBS Citizens, nearly 80% of mid-market firms are currently doing or are open to doing an acquisition. One in three are open to being fully or partially acquired by an outside investor. Whether a CEO is thinking about selling or just wanting to make the company more profitable, there needs to be an actionable game plan.
Private business owners should have three key plays in their playbook--Strategic, Financial and Operational—to get the ball in the end zone and beat the competition.
The company's playbook should have one objective: Building the Enterprise Value (BEV) of the company.
The winning plays are:
1. Strategic – position the direction of the company in the market place, via four key strategic considerations (the 4 M’s):
2. Financial – Maximize cash flow, balance fixed and non-fixed assets, maintain a current ratio sufficient to cover unforeseen costs and balance short and long term financing needs. This includes optimizing the company's balance sheet, cash flow and income statement. Key strategies include:
Michael Evans is Managing Director of the Northern California practice of the Newport Board Group.
Mark Rosenman is Newport’s Chief Knowledge Officer.
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