There are many ways to increase the value of your business. One of the easiest is to uncover the hidden potential we all have right at our fingertips. I’m referring to using what you already possess to drive sales, improve productivity, increase operations efficiencies and the list goes on. Here are four ideas to reveal UNTAPPED POTENTIAL within your company.
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Review their current will. Take a hard look at their personal finances. Plan longer vacations. Work with a personal trainer or at least walk more. Downsize their home. Manage the affairs/care of an aging parent. Attend graduation of and or marry off their youngest child. Re-purpose the extra bedroom. Investigate locations for a winter home. Do you know an Owner
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Some food for thought before handing your business over to a next generation family member. I remember meeting the Owners of a small business. He had worked hard and the company had provided his family with a comfortable life. There were 3 sons. One worked occasionally in the business, wasn’t suited to take over and never really did much
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Are you running out of runway? Feeling tired and not prepared to do any more work on the business? Maybe you waited too long to sell and the end is still not in sight. The kids are now older and not interested in running the company. Employees are not prepared to buy or run the business. You may have had
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My son and I got into a conversation about Trump the other day. And of course the inevitable what do we do here in Canada about our own leadership. As we talked I realized that our discussion was less about the specifics and more about our own generational concerns and how the implications would affect us personally. So with that
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Are you running out of runway? Feeling tired and not prepared to do any more work on the business? Maybe you waited too long to sell and the end is still not in sight. The kids are now older and not interested in running the company. Employees are not prepared to buy or run the business. You may have had
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As a trusted advisor in-house or outside you need to be as up to date on business transition as you can. Want a seat at the table? Bring something of value specifically related to business transition. I’ve noticed lately how older Owner/Operators tend to view business transition differently than younger. It has been interesting to watch the changes in attitude
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Excerpt from my book Moving Forward ‘ Get the Triple Effect – Sell your business for 3 x more and 3 x faster.’ If you don’t prepare properly, the fallout will be far worse than you think: 1. Your spouse/family will be left to run or sell the business. Your spouse may be forced to work with your partner. That goes two
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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
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Excerpt from my book Moving Forward ‘ Get the Triple Effect – Sell your business for 3 x more and 3 x faster.’ If you don’t prepare properly, the fallout will be far worse than you think: 1. Your spouse/family will be left to run or sell the business. Your spouse may be forced to work with your partner. That
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