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THE RECORDapril 2017Published by the national tooling and machining association Future starts now. Prepare your business for all that tomorrow holds. Inside this issue highlights from the mfg meeting
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01
Step 1: Identify the purpose of preparing your business. Are you preparing it for a specific event, such as a sale or expansion?
02
Step 2: Assess the current state of your business. Evaluate its strengths, weaknesses, opportunities, and threats.
03
Step 3: Create a detailed plan outlining the steps you need to take to prepare your business. This may include tasks such as updating financial records, improving operational efficiency, or enhancing customer experience.
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Step 4: Allocate the necessary resources to execute your preparation plan. This could involve assigning specific responsibilities to employees, allocating budget for necessary investments, or seeking external professional assistance.
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Step 5: Implement your preparation plan by following the outlined steps and monitoring the progress regularly.
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Step 6: Continuously review and adjust your preparation plan as needed based on emerging circumstances or changing business goals.
07
Step 7: Once your business is adequately prepared, communicate the changes and improvements to relevant stakeholders, such as employees, customers, or investors.
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Step 8: Monitor the effectiveness of the preparedness measures and make necessary adjustments to maintain the desired state of readiness.

Who needs prepare your business for?

01
Business owners who are planning to sell their business and want to maximize its value before the sale.
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Entrepreneurs who are considering expanding their business into new markets or launching new products.
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Companies facing significant challenges or threats, such as economic downturns, industry disruptions, or changing customer demands.
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Startups or small businesses looking to attract investors or secure financing.
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Businesses in highly regulated industries that must comply with specific requirements or standards.
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Any business that wants to improve its overall performance, efficiency, and competitiveness.
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