Planning Your Exit Strategy
Selling Your Business to a Private Equity Group
Leadership Action Plan
Business Driver Example
Look at the following business driver example. Dan is the owner of a startup web development firm. He has done his initial research, written a business plan, and is prepared for the operations of his business. Now, Dan needs to understand the business drivers of software development. Understanding the business drivers can give an owner a better overall understanding of their company. In other words, the more knowledgeable an owner is about the inner workings of his/her company, the more successful his company has the capability to be.
To do this, Dan begins by finding all the reading materials he can. He studies technologies, operations, human resources, and most importantly marketing and sales. Dan is attempting to discover the business drivers for enterprise architecture. He is on the path to achieving this goal.
Meet With Experts
Next, Dan attempts to meet experts in the industry. He starts with those who are close to him: family, friends, and college acquaintances. Then, he begins to find and attend networking events related to his industry. In these places Dan will flush out those who truly know about the business drivers in software development.
Dan has found information as well as experts in both operations and marketing. Now, Dan must find experts in financing his firm. He attends banker’s organizations, venture capital networking events, and his local angel investors conference. Dan, due to the assets he holds, has settled on a bank loan as his method of financing.
In conclusion of this business driver example, Dan’s future seems bright as he paves the way for his success. By constantly studying the business drivers, software development success is only a matter of time. He prepares for the future, resolves to save cash as best he can, and aligns his thoughts for his future.
If you want to find out more about how you could utilize your unit economics to add more value to your organization, then click here to download the Know Your Economics Worksheet.
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