Forgetting or overlooking cash flow is not only a risk to the viability of your business, but can often reduce the value of your business. Instead if you can drive up your cash flow you will often drive up the value of your business and reduce your stress in the process.
Many owners had to take on too much at their own businesses during COVID. This article shows 3 steps you can take to get your life back.
8 facts to help you determine if you own a business or an expensive job. if you own a business than you own an asset that others might want to buy from you. If you own a job, than most likely your business ends when your self employment does.
The Music Industry Illustrates the sometimes exponential value of owning a unique brand. Artists like Bruce Springsteen who own their name, Amazon who owns their distribution experience and Peloton who owns a unique community all illustrate how these unique aspects drive up their respective values.
If you are a business owner you will often have to “fire “yourself from the day-to-day grind of your business so you can truly unlock the value of your business.
To Grow the Value of my Business requires more than just increasing profits. It requires me to optimise my business on the 8 key value drivers a potential buyer would look at.
Use the art of bundling both your expert and general services to capture customers, build their lifetime value, and drive up the value of your business.
Despite having no grapes, vats or wineries of their own – nor experience in the industry – Michael Houlihan and Bonnie Harvey were able to create, grow and sell Barefoot Cellars for millions. 15 lessons they shared from this experience are listed below.
As you know, it is far easier and efficient to cross-sell a new product to an existing customer than it is to market and find a new customer for that product.
If you are looking to just grow your top line revenue, then cross-selling is a very effective technique.
However, you do have to be mindful as to the extent of your cross selling and how it affects your revenue diversification. In some instances, if you cross-sell your existing customers too much stuff, it could make your business far less valuable.
Amazon Prime is arguably one of the most successful examples of a company transforming its repeat customers into repeat business subscribers on the planet.
Not only did the average customer life time value (LTV) more than double, the the success drove tens of thousands of non Amazon customers to subscribe and engage with the company off the bat as repeat subscribers.
As Amazon knew (and clearly illustrated) repeat business drives the value of a company, but not all repeat business is the same.
“I wasn’t being strategic, I was going through a divorce!”
Divorce often sinks a company but John the owner was able instead to transform his company into an independent asset. Today he works 90% less hours, his company is growing, and he enjoys the business much more.
is your business independent or does it own you?
10 Questions Often Asked When Looking to Sell Your Business One of the most intimidating aspects of selling your business can be facing the barrage of
Wisdom is not the same as Intelligence or even technical knowledge. Thousands and tens of thousands of very smart business owners were technical experts at what they produced and should have had business success, but their companies lie in unmarked graves across the economic landscape.
Lack of market demand is the primary reason provided for many start ups failing, but that does not fully explain why 50% of SMEs fail within five years.
“Prepare the business for a sale even if no intention to sell currently or in the future”
Why ? Because if you are preparing to sell from now (even if you do not intend to actually bring the business to market anytime soon), you will position your business to provide you multiple options when it does come to exit. That can mean passing along a well-functioning business to your children (instead of a lemon that prematurely ages them as they struggle to deal with its inherited issues and problems), selling your business at a premium (due to multiple and/or strategic buyers) or other options in between (minority sell off, etc)
Why did you decide to become an Entrepreneur? If you’re like most owners, you aspire to have the freedom that comes from owning your own independent business. This desire for freedom often leads owners to aspire for a bigger business, which they think will give them what they want. Unfortunately, most owners who strive for more revenue or profit as their primary goal often end up with less freedom as slaves to the day-to-day grind of their business.
There’s an alternative to get you closer to what you want..
Excellent Service drives up the value of your business. In this article I illustrate how Amazon solved an AED 1,835 issue for me that generated over AED 400,000 in business value for them. It’s a formula (excellent service – repeat customers – high multiples) they practice again and again.
The Major Blind Spot Blocking Business Value “…Do not think you are wiser than you really are” (Romans 12:16) I wrote an article last month
Financial Freedom – “You Proofing” Your Business In a previous post, I spoke about the Freedom Point and the risk in holding on to your
Are you Achieving Financial Freedom through your Business? When did you last calculate how much of your net worth is tied to your company’s value?
Have you struggled to identify a recurring revenue model that will work in your business?
If so, you’re not alone.
Most owners understand the benefits of recurring revenue, such as predictable cash flow and an increase in their company’s valuation, but struggle with where to start. Just changing your pricing from a one-time transaction to a smaller, recurring fee does not make a sticky subscription model.
Chasing all types of revenue by offering a wide array of products and services is common among growth companies. The easiest way to grow is to sell more things to your existing customers, so you just keep adding adjacent product and service lines.
However, there can be two drawbacks: First, you offer a wide range of products and services without any deep expertise in any of these products and services.
Second, a wide range of products and services can just confuse your customers and lead them to look elsewhere.
Should you Sell your Business Now? 5 Reasons why 2021 might be the time you look to sell your business Have you been thinking about
How practicing Situational Awareness adapted to your business can protect you against the unexpected as well as increase your business value.
Ever walked into a place designed to create an unforgettable experience? Imagine a school like that. I recently toured a new school in Dubai, where my wife will work, and my daughters will attend. The moment you step into the welcoming entrance, you know it’s different. Bright, spacious, and thoughtful in every detail. And it only gets better from there. Read on to learn what it can teach you about your business.
Last Thursday’s US Presidential debate was more than just political theater. Hidden within the chaos was a crucial lesson for all business owners. It’s not about age or stats—there’s a deeper secret. Trump’s approach clashed with Biden’s in a way that revealed a powerful tactic. Want to uncover what this hidden strategy is and why you should apply it when speaking about your business? The revelation might just surprise you.
Ever heard of Eugene Schwartz?
If not, and you want to stand out in a crowded market, it’s time to get up to speed. Discover the crucial concepts of market sophistication and customer awareness that can help you cut through the noise. It’s a masterpiece on how to get your message noticed. Read the brief into to find out more..
They’re not who you think they are. They’re lurking, ready to drain the lifeblood of your hard-earned success. Who are these relentless creatures? How can you spot them before it’s too late?
Explore the tactics and signs of these price-squeezing predators and share strategies to protect your business from their grasp. Stay vigilant and stay ahead.
Sometimes, a single piece of information can shift your entire perspective and transform how you have been running your business. Discover how understanding one crucial concept can make all the difference – especially if you feel things have become more challenging recently.
Curious to know more? Stay tuned to uncover this vital insight that could bring some much needed success.
Today marks a milestone – my 450th daily post and email.
Sharing these insights is my way of helping you level the business playing field.
Why daily? Because each day brings new ideas that can make a difference now, not next week.
These emails connect us, offering value without collecting a dime.
Here’s to your success.
Last week, we explored how to avoid the constant pressure to lower prices and still thrive. Vance Morris, with his carpet cleaning business, defies the odds by charging much more than his competitors in a commodity market and gaining a loyal base of repeat customers. How does he manage this in such an environment where everyone else tries to undercut each other on price? Stay tuned to learn more
As I parked my car in the scorching 44°C(111.2°F) heat, I realised how much customer experience and value matter.
My daughter’s school? A logistical nightmare:
* Staff hogging all the good parking spots.
* Gate farthest from where we park.
* No access to the air-conditioned buildings.
* A sun-soaked trek to the car with my daughter.
It felt like a fire walk and sauna every day.
But the new school next door? A dream:
* Ample parking for everyone.
* Convenient, central pickup and drop-off.
* A welcoming lobby with a café for parents.
They’re already full with a waiting list, and they haven’t even opened yet.
Curious how these lessons apply to your business?