When is the right time to get a valuation on your business? What is your exit strategy? Are you planning on selling in the next few years? Meet Jason Pittman, President of Exit Advisor. Jason is in the M&A (Mergers and Acquisitions) space to help business owners that have revenues of $300,000 upwards to $10,000,000, plan their exit and/or retirement. Whether you want to pass the business to other members within your family or want to sell to the highest bidder, there is more than 1 way to achieve your goal. What started as a blog and a hobby has now grown into a full-time business for Jason. Now that your business is profitable, it’s never too early to begin planning your exit strategy. We hope you like this week’s show!
What makes for effective small business & entrepreneurial support in Huntley, IL?
Our network of Subject Matter Experts can plug in for almost any problem facing a small business or entrepreneur. From Advisory positions to setting up supply chains or positioning your business for scale up or exit.
What is the usual time frame in executing a strategic plan?
1- 3 months. More complex projects can last 6 months or more. Depends on scope.
What are the 4 key elements of strategic planning?
Align Strategic Vision, set milestones, develop action plan, take action
What are the benefits of executing strategic planning in a manufacturing business?
Mitigate risk and increase speed to achieving major milestones
Is strategic planning necessary in a manufacturing operation?
Absolutely. Without a map, you do not know where you will end up. Having a strategic vision, laser like focus on the right metrics and a solid actionable plan that mitigates risk and moves the ball forward faster ensures owners will meet their targets.
Training Services in Manufacturing in Huntley, IL
Is training necessary in manufacturing?
Quality Systems, Production Systems, OSHA, regulatory items
What types of training services are available in Huntley, IL?
In person, remote, video with tests for information retention, integrated systems to Quality Management Systems, and Interactive training are offered.
Quality Systems in Manufacturing in Huntley, IL
What are quality systems in manufacturing in Huntley, IL?
ISO9001- general business, AS9100D – Aerospace, IATF16949 – automotive, ISO17025 – lab accreditation are a few.
What is ISO for manufacturing?
It’s a Quality Management System covering key aspects to mitigate risk in supplying product to customers.
What is IATF for manufacturing?
IATF 16949 is the automotive standard required for all suppliers to OEMs that mitigates risk in manufacturing products and services.
Active Networking in Manufacturing in Huntley, IL?
What is meant by active networking?
Sharing of capabilities to support American Made, Buy Local initiative. By knowing each others capabilities and operating in a network we build trust and long lasting relationships.
How will a manufacturing business benefit from active networking?
Established trust and relationships are a benefit to customer service and responsiveness.
Technical Sourcing in Manufacturing in Huntley, IL?
What is technical sourcing?
With new products, we work with the right partners to source your required parts to vendors with the proper capabilities based on the engineering parameters.
How can technical sourcing benefit a manufacturing business in Huntley, IL?
Reduced time to get pilot parts, identify best fit with correct suppliers who can execute reduces risk of late and incorrect deliveries. We help communicate your vision, intent and needs.
Regulatory Certification in Manufacturing in Huntley, IL?
Why is a regulatory certification important in manufacturing?
Government and industry regulations are required to be compliant for shipment of products in certain industries. Foregoing them could result in fines, government intervention or lawsuits and shut down your business.
What can I expect in handling regulatory certification matters in Huntley, IL?
Our SME (Subject Matter Experts) who understand your industry and your service through discussion and interviews can advise and help with application and establishing a robust process to ensure compliance.
New Product Introduction in Manufacturing in Huntley, IL
There’s a new product I want to introduce to the market at the soonest time possible. Is there a way for me to do this quickly?
Quickly is a relative term. It relates to the complexity and regulations required for your parts in that particular industry. We can help you put together the most robust development process with proper Stage Gates to ensure not only fastest time to market, but that you don’t miss critical validation steps along the way to production readiness.
What can I expect in a new product introduction service in Huntley, IL?
By surveying your business, the product being designed and the industry, we can put together a roadmap and help you design a robust validation process that you can execute for all products within that niche.
Export Strategies & Models in Manufacturing in Huntley, IL
What makes an effective export strategy in manufacturing?
Understanding the workings of all the players in the logistics chain, necessary paperwork, insurance requirements and regulatory requirements is key for a solid export strategy. Chicago is one of the major hubs for US trade.
How do you develop an effective export strategy and models in manufacturing in Huntley, IL?
We will work with you and your team to survey the business, the supply chain, proper inventory levels and freight/ logistics necessary to execute an effective import/ export model.
Why are export strategies and models important in manufacturing?
Without a solid model, running out of parts/ shutdowns, items held at port, wasted time and money result. Ultimately, can lose customers fast.