888-983-1617 [email protected]

6 Ways to Get Your Business in Shape for the New Year

Near the close of every year, middle-market company owners should be taking stock of recent successes and making plans to enter the new year in the strongest position possible.

Whether your business is looking to sell or seeking outside investment for continued growth, it’s important to consider how you can be preparing, both mentally and operationally, to take advantage of the opportunities that lie ahead.

As a starting point, work through this checklist:

 

1. Review your goals.

Are you building a business to sell, or do you plan to continue running it for the foreseeable future? It’s time to reassess goals. Ask yourself: Where is the business now? Where do I want it to go? What do I want to be doing one year from now? Once you have these answers, create a detailed goal-fulfillment plan.

 

2. Do some research.

No two years are the same, and though no one can predict the future, we can often anticipate a course of change. Talk with advisors, peers and analysts to get a sense of where the market could tilt in the coming year.

 

3. Explore the options.

Maybe a sale is right for you this year. Or it could be time to consider a joint venture or a strategic partnership. Perhaps your next step requires financing. Regardless, think about all the options ahead and examine how each could improve your business. Then get into details. For instance, from a financing perspective, traditional bank loans can be difficult to obtain and expensive to repay. However, small to medium-sized companies have many additional financing options, such as private equity or debt equity. But don’t be hasty. Work with advisors who can recommend the right solution for your company.

 

4. Check your books.

No matter where you’re headed, you’ll want your financial narrative to tell a strong story. Before the end of the year, enlist a third party to audit your finances. A fresh set of eyes can help target small problems before they can impact next year’s bottom line.

 

5. Evaluate your brand.

Does your brand set you apart from competitors? Would investors know your name? If not, think about ways to market your company in the coming year. It starts with knowing your target audience and understanding what makes your business unique, trustworthy and valuable. Then, spread the word.

 

6. Work smarter.

How often do you resort to a quick fix to keep your day-to-day operations in motion? Think of reoccurring issues your company has faced. This is the time to design a permanent solution and build a stronger company foundation that can support your next stage of growth.

To position your company for the coming year and an eventual sale, it’s important to plant the seeds of success now. Otherwise, you could risk losing a pivotal opportunity for lack of preparation.

3 Signs an M&A Deal Is in Trouble

Read the article in CFO.Spotting signs of trouble early is critical for CFOs to prevent a deal from derailing. Not every CFO will experience M&A firsthand during their career. But those who do typically find that their existing skillset makes them a crucial asset...

4 Tips for Pitching Investors in Today’s Economy

Read the article in CFO.Any company that intends to grow past a certain point eventually reaches the familiar milestone of pitching to private capital sources in hopes of securing additional funding. Those businesses that tend to be most successful are the ones that...

Resolving Conflicts in a Family Business

Read the article in Small Business Current.When family members run a business together, the experience often draws them closer, but there are inherent risks as well. Having years of personal history with one’s co-workers can sometimes lead to non-work disputes...

Oaklyn Consulting Congratulates Proof of the Pudding on Acquisition by Bruin Capital

Oaklyn Consulting congratulates Atlanta-based catering, food service and event company Proof of the Pudding on its recent acquisition by Bruin Capital. Oaklyn Consulting assisted Proof of the Pudding in evaluating potential partners and negotiating the transaction....

Analyzing Broad vs. Narrow M&A Deal Processes

We respect the unique M&A market insights that Sutton Place Strategies, an affiliate of Bain & Company, creates from its business development work with PE firms. SPS Founder and CEO Nadim Malik gave a presentation at ACG Boston's M&A Outlook forum in...

How To Work Through Conflicts In a Family Business

Creating a family business comes with a lot of positives, as well as a lot of challenges. Here’s how to handle those conflicts as they arise. Thanks to The American Genius for having me! Read the article in PDF.Anyone who’s managed a business with other family members...

Takeaways from Axial’s Recent ‘Dead Deals’ Analysis

Those of us who negotiate M&A transactions for, and with, small- to mid-sized businesses know a few hallmarks of the process: For any company, there is a limited universe of buyers. Each buyer's interest is unique, so average valuations are not reliable indicators...

Who We Helped in 2022

At the start of every year, we at Oaklyn Consulting like to look back at the past 12 months to reflect on projects accomplished and lessons learned from our clients. Building on our achievements from 2021, Oaklyn Consulting worked with 34 organizations in 2022 on...

Monty Bruell Interview with Business Radio X

Our Monty Bruell sat down with Business Radio X to discuss succession planning in minority and women-owned businesses. Listen on Spotify or Amazon Music or read the transcript below!INTRO: Broadcasting live from the business RadioX Studios in Atlanta, Georgia, it's...

Succession Planning for Minority and Female Business Owners

For the founders of minority and women-owned business enterprises (MWBEs), succession planning takes on a deeper significance. Our Monty Bruell explains in a guest column for Memphis Business Journal. Read the article in PDF.Any entrepreneur approaching retirement has...