1 Simple Way To Double The Value Of Your Business

I learned this tip from not doing it well the first time.

I said “simple”, not “easy”…

There are so many things to think about that without this one secret you are almost destined to fail. The good news is that with this simple secret you are almost guaranteed to succeed and build a company that everyone wants to buy.

What is this one secret that can make a business owner successful?

Systems. Simple straightforward, easy to implement…systems.

Start there.

I rebelled against systems for years. And then I implemented some and started making real money.

Some people call them processes. Some people call them procedures. Others still call it documentation.

Consider them all part of the same solution

To be successful, scalable and sustainable you need to have systems in place that clearly define everything you need to do, when you need to do it, who needs to do it and how it is to be done.

It’s hard to define which systems are needed by which businesses because all businesses are different.

Having said that there are certain business functions that businesses have in common. Some examples include:

These are present in almost every business. Sometimes they have different names and sometimes you share the burden of certain processes with partners or outside consultants, but they exist. Some people say “fulfillment” while others say “delivery”. Same difference…

Systems come in many different forms;

When the proper systems are in place they create and reinforce certain behaviors that engage the culture of the organization or the individuals themselves such as;

If your business needs work in this area (and most do), start simple. Take out a piece of paper and start scribbling out your business processes and then scratch out some systems to support the processes. Then put some spit and polish on them and come up with your own fancy names.

You can build your own or you can buy predesigned systems that are industry specific. If you choose to build your own it will cost you time and if you buy someone else’s it will cost you money. If you build your own, you may also end up with a product for resale.

Many products and services available today for resale began as solutions to very specific proprietary problems that some business owner created for himself out of necessity.

The reasons that systems will make your company worth far more when you choose to sell it are;

With clear documentation and efficient systems and processes, it is reasonable to expect that you could get 2 to 4 times more for your company in a sale than you might otherwise.

You will also drive more revenue, be more profitable and nurture a healthy and energetic culture that will make things more fun while you’re building.

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