Marketing Services That Drive Profits
Accelerate Profitability with Innovaxis

B2B Marketing Strategy & Managed Services Blog Innovations Insights

3 Steps for Applying the Merlyn Principle in Business Planning

Sean Parnell - Saturday, July 27, 2019

Book of Merlyn

In T.H. White’s The Once & Future King, Merlyn explains how he predicts the future: “Now ordinary people are born forwards in Time… But I unfortunately was born at the wrong end of Time, and I have to live backwards from in front, while surrounded by a lot of people living forwards from behind. Some people call it having second sight.”

If you want to predict the future of your business, then start by developing your exit strategy and work backwards. Here are three steps for doing so.

Step 1: Create Your Exit Strategy

It can be uncomfortable to explore the answers to questions like, “How long will I live? How much money will I need for retirement? When should I retire?” This may require the help of a financial advisor who can guide you through the process of determining:

  • How much you will need to live on in retirement
  • How much your investment portfolio will provide
  • The gap between the two – or what you’ll need to generate from the sale of  your business
  • How much revenue and profit you’ll need to generate to sell the business for what you want
  • How many years it might take to generate that business,
Continue Reading >>