Systems Sell Your Business
Buyers are looking to invest their money into a business with a predictable future. Predictability breeds confidence and if a buyer is confident in the future of your business, they will pay you top dollar.
Systems Run The Business, People Run The Systems.
Having great people who buy into your vision and understand the heart of your business is essential to delivering exceptional results for your customers. The only thing better than having great people, is having proven systems to plug them into. When a business is well systemized, and those systems are documented or automated, great people can master a proven way of achieving extraordinary results. However, if the operating processes of your business reside only in the heads of the employees walking in and out every day – you’re likely leaving cash on the table when you go to sell.
Buyers love to know that regardless of who comes and goes in your business the operating intelligence remains securely within your business. Well-designed systems allow your team to be trained faster and to be successful no matter what kind of distractions or issues they encounter. And the bonus is that having systems in place boost buyer confidence that your business will continue to thrive into the future.
Replace Yourself With Systems
Most business owners wouldn’t consciously drive down the value of their business. However, if your business is reliant on you for the day-to-day operations – that’s exactly what you’re doing. Buyers don’t want to purchase a job. If you are a Hub & Spoke owner – one who is at the hub of all activity – you are responsible for driving down the value of your business.
If you're planning on selling in the next three years, take the next month and make a list of the decisions that only you are making for your business. Write down the questions people come to you with and identify the information your team relies on you to provide. After a month, you’ll have a solid list of where your business is dependent on you. The next step is to prioritize your list and begin to put in place the systems that allow others to make decisions, access information, or take actions that only you are doing now.
Tout Your Systems
When your business is being marketed you’ll want to make sure buyers are aware your business has reliable systems. At the proper time in the sales process showcase your systems and discuss the value they bring to your ability to get results for customers and hire, train and retain great people.
Hub & Spoke is one of the 8 Drivers of Business Value. You can find out how your business scores in all eight drivers of value by taking a quick, confidential 15 minute assessment. Take the time today to get your Value Builder Score and identify what you can do to start increasing the value of your business.