3 Steps to Grow the Value of Your Company
Step 1 – Clean Up
After a 2 or 3 decades of running a successful company it’s easy to keep relying on the old proven ways. Maybe the time has come to clean up the office physically, update finances in general, improve operations, re energize sales and marketing, get rid of the people holding you back and bring in new blood where required. Basically put your house in order. Position yourself for growth and or transition.
Step 2 – Grow Up
If you want to be a bigger more valuable business you need to act like one. Don’t be afraid to go after bigger projects or sales. Present yourself to customers and prospects as you want them to see you. One of the many things you’ll need are better processes, well documented and executed by everyone in the company including you.
Step 3 – Scale Up
Get aggressive, plan big and don’t be afraid to fail. Decades of success can make us lazy and fall into a cruise control style of running the company. Who better than the Owner knows where the hidden opportunities are and what needs to be done.
Then go and sell your company for 300% more than its current value.
Leave a legacy your children, grandchildren and great grandchildren will talk about for years to come.
LISTEN to the April 18, 2018 Business Transition Roundtable Discussion I did with commercial law specialist Elisabeth Colson.
WATCH my latest interview on Liquid Lunch. Learn who’s buying businesses and what they’re looking for. Find out how to get more for your company.