Building business value is a strategy to optimize your company for longevity and attract ideal investors and buyers. Improving business value consists of measurable and immeasurable actions: the former includes increasing profit, revenue, and market share, while the latter include improving customer service, employee engagement, and leadership development.
Building business value is a process taken to maintain a sustainably thriving company – a significant element of creating an exit strategy to satisfy stakeholders, guarantee your company’s future, and guarantee optimal financial return upon exiting your company. To understand more about the process, I’m providing an overview of value building that I incorporate into my business exit and transition services.
Overview of Value Building
- Identify the challenges and opportunities within your organization: I conduct a SWOT analysis (strengths, weaknesses, opportunities, threats) to identify what areas of your company to capitalize on and what areas need improvement or transformation to reduce or eliminate decline or stagnancy.
- Design and implement strategic plans: strategic plans are concise documents with instructions on achieving company goals. I help my clients create purposeful goals with practical solutions for optimization and improvement and create a step-by-step plan for successful execution.
- Process and systems management review, using opportunity/problem identification, data analysis, and process improvement and documentation. We will assess the efficiency of your internal operations and processes and explore solutions for more cohesion, simplification, and data access, such as strategically implementing ERP software.
- Create a plan for developing the next generation of leadership: your staff will need to take on more responsibilities to ensure your company’s continued success. The goal is to have your team fulfill their daily objectives smoothly – even when you’re not in charge. Developing the next generation also appeals to buyers preferring to purchase from a company needing less supervision.
- See results through inspiring participation from your team: sharing your company purpose, mission, and vision with your team and incorporating them into a values action plan to cultivate employee engagement.
- Annually benchmark and track business valuation improvements: we will confirm your company is on track with achieving strategic goals and valuation improvements.
Why You Need Value Building
Building valuation includes creating a strategic plan to improve sales revenue, attract more returning customers, capitalize on key results areas, minimize or eliminate constraints, and streamline operations and processes for optimal functionality, quality, and cost-effectiveness. Value building is necessary for competitiveness, even if you aren’t pursuing an exit strategy or transition in the present.
When done using a critical approach, value building will put you at a competitive edge in the market and expand your opportunities for growth and expansion. Working with a certified business coach and exit planning advisor is significant in completing a well-executed value-building strategy.
Business owners and entrepreneurs may request professional assistance in building business value by booking a consultation with me today.