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A business transfer is a painstaking process that can last 2 to 5 years or sometimes more. Entrepreneurs who are planning to hand over control of their businesses in the coming years have a number of options. Have you thought of the cooperative model as a way to ensure your business continues?
A producers' cooperative operates a business whose primary goal is to provide the goods and services its members need to carry out their work. This formula may be an appealing legal framework for self-employed workers, professionals, merchants or producers seeking to establish a network where there is strength in numbers.
Promotion and communication are closely related. Promotion encompasses everything you do and all the tools you use to communicate your offer and positioning in order to build a relationship that will turn potential customers into clients.
What personality traits do entrepreneurs have, and what skills does it take to become an entrepreneur? There are all kinds of entrepreneurs, but those who are successful have some things in common. They have personal, interpersonal and job skills that help them succeed in everything they do.
There are many reasons why you may want to grow your business: to fulfill your professional goals, increase the value of your business, keep pace with the market or just reach a critical mass. By planning your business's growth, you'll have better control over it and meet your objectives.
Define your vision right away—it will guide your business through a 2-stage growth process of selling and structuring. After making sales and meeting your objectives, you'll need to take time out to think about how to structure your business.
In farming, technical management is no longer enough. Farmers must now perform overall management and risk assessment much like for any other business. Aiming for profitability, assessing risks effectively, taking steps to strengthen the business’s financial situation, facing potential crises—strategic planning encompasses all these tasks and more.
Since farms have become bona fide SMEs—some with roughly $500,000 in sales, more than $1 million in assets and often considerable debt—farmers must now have the traits of business leaders.
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