By Tom Cramer
Sports serve as a frequent metaphor for business, and that concept is particularly relevant in one key aspect. In the final analysis, it is all about the points on the board. It is not about trying or effort or intention, it is about the balance sheet and the valuation your business will support. These are the concrete metrics that reflect the end results of all your efforts as a founder and as a manager.
Providing a Baseline
Most business owners and managers understand what a balance sheet is from a technical, accounting perspective. …
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By Tom Cramer
Failure in business is a part of the free enterprise system, and it is often beyond one’s control. Changing economies, hyper-competitive, disruptive technologies, and other factors often bring about unanticipated challenges and difficulties. While effective planning and strategic oversight are just a few of the factors to help anticipate these threats, they are often not enough.
Planning for Success or Failure
However, the exit strategy you adopt and work towards should never be left to circumstances.
Waiting for a heart attack or a disruptive market player is not choosing an effective exit strategy.
One of …
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