Business owners seeking expert guidance in building their business value will receive the tools and strategies they need by booking value-building services with me. Together, we measure your current business value, then create a strategic plan to implement process and operations management improvements, leadership development, enhanced marketing, higher sales revenue strategies, and more.
In my latest video, I reveal aspects of your business that influence your current business value, and how we will approach managing those areas for value improvement.
Find the transcript for the video below:
This is Keith Atneosen, founder of Freedom Summit Consulting.
There are a number of things that will either increase or decrease a business’s value, but there are three that I’ve seen that are pretty common.
The first issue is around owner dependence: the business really requires the owner to be there for successful operations, successful relationships with vendors, or even more important – customers. And so that’s the first issue we really need to work through if we want to have a marketable and sellable business is to reduce the owner dependence.
The second issue is a lack of recurring revenue: when we have a business that’s really based off of closing deals, again and again, to have success financially. That is just the nature of some businesses, but to the degree that we can have recurring revenue, your business value will increase substantially.
The third issue that I also see is common is that there’s a concentration of customers. That means you’re dependent on one, two, or three customers for a substantial amount of your revenue. The issue with this is: if somebody were to buy your business and that customer leaves, the business might not be successful anymore. So if we have time, what we want to do is not get rid of those customers – they’re great. We just need to keep adding more customers so that we’re not concentrated on a select few for our success.
How to Maximize Your Business Value
- Accurately measure your current value to create long-term valuation goals.
- Increase your sales revenue, pay debts, and implement expense reduction strategies for a straightforward approach to building your economic value.
- Develop enhanced marketing strategies for data analysis to discover more ways to reach your consumer base, attract prospective clients, find leads, measure sales conversions, and more.
- Use promotions and loyalty programs. Buyers and investors value businesses with a large subscriber base.
- Conduct product and service innovation to stay competitive and distinctive.
- Build a highly skilled team with leadership capabilities. Cultivating a team with excellent performance ensures business operations run efficiently on their own, impressing buyers.
- Creating effective plans: having a business, business exit, and succession plan will make investors more confident in your business when you exit.
Entrepreneurs who are ready to build substantial value can consult with me today.
