In this episode, we dive into a crucial strategy from Chapter 38 of the Maximize Business Value Playbook: the importance of diversifying your suppliers. While it may seem counterintuitive following our discussion on rightsizing service providers, having a variety of reliable suppliers is essential to ensure your business's resilience and operational continuity.
Discover why placing all your bets on a single supplier could be a risky move, especially in a world where natural disasters and unforeseen circumstances are more common than ever. We'll share real-life examples, including a close call with a tornado, that highlight the importance of being prepared. Join us as we explore actionable steps to create a robust backup plan for your critical suppliers and service providers, safeguarding the long-term sustainability of your business.
Tune in to learn how to strike the perfect balance between efficiency and security in your supplier relationships, ensuring your business remains unshakeable no matter what comes your way.
Mastery Partners
Elevating Businesses to Achieve The Business Owner’s Dream Exit
The unfortunate reality is that for every business that comes on the market (for whatever reason), only 17% of them achieve a successful exit. You read that right. 83% of attempted business transitions never reach the closing table. Mastery Partners is on a mission to change that. We ELEVATE businesses to achieve maximum value and reach that dream exit.
Our objectives are simple - understand where the business is today, identify opportunities for dramatic improvement, and offer solutions to enhance the business, making it more marketable and valuable. And that all starts with understanding the business owner’s definition of his or her dream exit.
Mastery has developed a 4-Step Process to help business owners achieve their dreams.
STEP 1: Transition Readiness Assessment
STEP 2: Roadmap for Value Acceleration
STEP 3: Relentless Execution
STEP 4: Decision: Now that desired results are achieved, the business is ready for the next step in the journey!
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