Why do you own a business? At Benchmark Business Group we believe in, "Value Realized." Owning a business should allow you the day to day freedom to live the life you desire. In the begining that might mean eliminating frustrations from your business. As your business grows it means providing you with financial freedom and freedom of time to pursue passions outside of business. Then as your business matures it means being able to sell your business at maximum value so that your investment of time and money pays off. Below are a collection of articles on "Value Realized" from our weekly Business Owner Insights.
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Did you know the scalability of a business not only makes a business more enjoyable to own, but also increases the market value of a business?Scalability is an important topic that many business owners don't take the time to consider. When a business is not scalable it hits its capacity and plateaus. However, a scalable business is able to grow significantly, handle increased demand, and generate consistent revenue with lower costs
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| When a business isn't getting the results you need there is always a design issue. It may not be an obvious design issue. For many small business owners, the answer is to work harder: sell more, stay later, put out more fires, invest more cash, hire more people, etc. It's all about giving more to your business. Today, we encourage you to think about, "Value Realized." |
As 2017 comes to an end, we want to send a note of gratitude to all small business owners. As you know, having an idea is just a day dream; but turning ideas into reality is what makes small business owners special.
Not having time to focus on change is a reality for most small business owners, but it's also something you can move past. All we have is time. It's how we choose to use our time that matters. Granted, this is easier typed than implemented, but if you truly want different results in your business then you have to change the way you spend your time.
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If you've followed along this month you know that we've focused on knowing how to increase the value of your business while you own it and when you're ready to sell. We often encounter business owners that are uneasy talking about their eventual exit plan. Some owners think it's too far away and they don't need to worry about it now. Others want, but seldom have, a clear plan to transition the business to their children or employees. And some plan to work up until the end (this one is just scary).
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One of the most common remarks we hear from business owners here at Benchmark Business Group is, "I wish I would have done this sooner." The reality is, there is no perfect time to start redesigning your business. In fact, achieving "Value Realized" isn't a one-time occurrence. Rather, it is a way of doing business that once you start will pay dividends, today AND when you're ready to exit your business. The best time to start is now.
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