The Importance of Planning an Exit Strategy

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Exit Strategy

Business executive and management consultant Todd Lovejoy currently heads TAL Management Services, LLC, in Livermore, California. Todd Lovejoy’s work experience has involved the reorganization and increased growth of companies in the medical, military, and consumer products sectors. Part of this consulting work has involved providing assistance in raising rounds of capital funding and preparing exit strategies.

Experts typically advise planning an exit strategy as part of any initial business plan. Not only will this assist in structuring operations, it will show investors the intended future direction of a company.

It makes sense to consider who future potential buyers might be. Competitors and large-scale established corporations represent possible purchasers, but so might a startup’s own employees.

Entrepreneurs planning their exit strategies should also consider how they will structure any buyout of their companies. They may elect to sell off only a portion of a business, or they may even divide interest in it into groups of voting and nonvoting shares so as to retain decision-making power.

Successful exit strategies may involve going public, in which case original management and policies may remain in place but under new regulations and with responsibilities to new shareholders; selling to an acquiring company in exchange for cash or stock; or facilitating a management buyout, which involves recapitalization in order to sell to a new team of managers while retaining the advantage of private-company status.


Defending against a Hostile Takeover


What is a Six Sigma Black Belt?

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Six Sigma Black Belt

Todd Lovejoy is an experienced business leader and management consultant with nearly three decades of experience with a wide range of public, private, and nonprofit organizations. Currently, Todd Lovejoy serves as the founder of TAL Management Services, which implements analytical tools such as the Six Sigma Black Belt methodology.

Originally developed by Motorola in 1986, Six Sigma is a business and quality management methodology. Originally, Six Sigma focused on the reduction of manufacturing issues, but is currently a broader management philosophy that emphasizes organizational improvement in order to better meet customer expectations. Qualitative measurements, such as statistics and financial analysis, are a major component of the methodology.

Practitioners of the Six Sigma management philosophy can obtain certifications that range from a white belt to a black belt. A Six Sigma Black Belt represents the highest certification level and ensures a high level of knowledge of Six Sigma methods. Certifications are available from several different certifying organizations, such as the American Society for Quality, which each maintain their own specific belt standards.

Earning Six Sigma Black Belt Certification

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Six Sigma Black Belt

For more than three decades, Todd Lovejoy has been working as a business manager and senior-level executive. His early career was spent with Hughes Aircraft and Solectron, and he currently oversees TAL Management Services, LLC, as cofounder and owner. To supplement his practical experience, Todd Lovejoy is a certified Six Sigma Black Belt.

Six Sigma is a business management strategy in which professionals earn certification at varying levels. One of the highest certifications is Black Belt, which is designed for top-level professionals who possess a strong understanding of the Six Sigma methodology.

Before professionals can earn Six Sigma Black Belt certification, they must pass an examination that tests their Six Sigma body of knowledge. This test is administered at testing centers around the world.

Professionals are encouraged to have some business management experience before they take the Six Sigma test. During the test, individuals are asked questions designed to prove their ability to manage teams, establish business plans, and analyze various types of corporate data.