Systems Equate to Replication and Greater Value for Your Business Sale
Sell-ability 101 – Part 3
Often we don’t realize how much we are the ME business owner, the one who the entire business depends on to be successful or the one that may not be the center of the business universe, but definitely more involved than a highly successful business owner should be. The more effectively that the business can run WITHOUT the business owner, the more stable the operations of the company are and the more likely that a ready, willing, and financially capable buyer will be interested in your company and pay the greatest price for your business.
That said, how do you get away from being the ME business owner. It’s hard because we all like to be the answer person. We want to be needed and to show our expertise and skills. We want to demonstrate how important we are to the operations and success of the business.
ME business owners are often profitable and have succeeded by spending countless hours and weekends in running, and often, being run by the business. The amazing thing is that many times this ME business owner believes that he delegates and he provides freedom to the team to execute the business product or service. Sadly, he misses the great value of having a highly functioning team that is well trained, provided with the necessary tools, understands, and can execute the business.
We have all seen this in sports. A high school, college, or professional team is beaten by a lesser talented opponent because the lesser opponent is well trained, has the tools, and executes the system. What is funny is how we don’t recognize it in our businesses. The reason is that we make a profit, we do ok, we meet our minimum goals, and we feel important as business owners. Making a profit, doing well, meeting goals, and seeing the value in being a business owner is great; however WHAT IF, I could show you how to:
- Work less and relax more
- Make more profits
- Worry less and lose the anxiety
I can. It’s called systematizing or creating processes and procedures. It may not sound glorious, like making a new product or creating a new service, but it is the backbone of a FIT to SELL company. Having systems, very detailed systems, such as job descriptions, and written procedures, for all team members is the answer. These systems along with the necessary tools and training on how to use the tools and systems create a FIT to SELL company. The owner becomes the ultimate manager and the daily, weekly, and monthly activity does not require the business owner in order to succeed. He manages the strategic growth and direction of the company.
Call Brent (480) 250-6559 or via email firstname.lastname@example.org, to get detailed assistance in building, streamlining, and developing your business to the point of being FIT to SELL.
Brent is the Founder of BounceU a children’s entertainment franchise system, entrepreneur, Certified Public Accountant licensed in CA and Business Broker in the Phoenix area. He resides in Gilbert, Arizona with his wife and children. Brent is an avid cyclist and outdoor enthusiast.