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The Conversation Behind Closed Doors

There’s a meeting that happens when an acquirer is looking to buy your company. You will not be invited to attend. The meeting involves the senior executives from the acquiring company. The subject is whether or not to buy your business. The principal question at hand is whether they should buy your business or compete with you. […]

The Definitive Guide to Standard Operating Procedures

Section 1: Why Create Standard Operating Procedures What Is a Standard Operating Procedure? A Standard Operating Procedure is a set of instructions used to train and onboard your employees to complete a task. Standard Operating Procedures are the foundation of building a business that can thrive without you which gives you the freedom to work […]

How a Messy Divorce Drives up the Value of Your Business

When couples divorce, it’s messy and expensive. The financial costs and emotional heartache associated with breaking up are massive, and the avoidance of these act as an incentive for many couples to work through their differences.

Stop Selling Your Time

If your goal is to build a more valuable company, stop selling your time. 

Billing by the hour or day means customers are renting your time rather than buying a result, which means that your business model lacks leverage. To grow, you need to either work harder or hire more people. Since it can take months to ramp up new employees, fast growth is just about impossible.

How You Treat New Customers Impacts Your Company’s Value

Think back to the first time you met your spouse. 

No, I’m not talking about when you decided to move in together.  

Go back way further. 

I want you to remember what it was like the first time you met. 

Remember those feelings?  

That’s when the wiring in your brain changed and you created an emotional attachment. Since then, I’m sure you’ve had ups and downs, but your relationship has stuck because of the attachment you created in the first few weeks. 

The same attachment can happen with your customers

How Your Greatest Strength Becomes Your Weakness

What’s your greatest strength as a CEO?

Sales?

Marketing?

Operations?

Whatever you do well, know that it might become your Achilles’ heel.

Your Finish Line Is Their Starting Line

What sporting event offers the best analogy for building a business? Some might say the closest game to building a company is football because of the strategy involved in drawing up plays. Others may say a team sport like cricket offers the best parallel because of the importance of individual performances rolling up to a team result.

In my mind, it’s the marathon.

A supplier could be a vendor who sells you raw materials, but it can also be a sales channel used to advertise and promote your wares. For example, if you get many of your sales from Google organic search, you likely live in fear that Google will change its search algorithm.

How Amazon Can Be a Blessing and a Curse

Acquirers are allergic to risk, which is why your dependency on a single supplier can drag down the value of your business.

A supplier could be a vendor who sells you raw materials, but it can also be a sales channel used to advertise and promote your wares. For example, if you get many of your sales from Google organic search, you likely live in fear that Google will change its search algorithm.

How Tomorrow Influences the Value of Your Company Today

Professional baseball scouts can get excited about a lanky 15-year-old lefty even though he has never faced a serious batter in his life. The scout sees what the young sophomore could be, not what he is today. 

Is This Hidden Factor Driving Down the Value of Your Business?

An Airbus A380 is a huge plane capable of flying up to 853 passengers from Houston to Dubai. It has four massive engines yet, amazingly, could stay in the air if three of the four were to fail. That’s the kind of redundancy you want if you’re one of the 853 souls who depend on the A380’s airworthiness for your survival.

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