3 Weeks or 3 Years in Prison? You Decide.
August 9, 2021
Most founders will tell you that a three-year earn-out feels like a prison sentence. They toil in the bowels of
Most founders will tell you that a three-year earn-out feels like a prison sentence. They toil in the bowels of
Section 1: Why Create Standard Operating Procedures What Is a Standard Operating Procedure? A Standard Operating Procedure is a set
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.
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.
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
What’s your greatest strength as a CEO?
Sales?
Marketing?
Operations?
Whatever you do well, know that it might become your Achilles’ heel.
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.
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.
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.
Adding some recurring revenue to your business is arguably the fastest way to grow your company’s value. Recurring revenue is so crucial that it is one of the most heavily weighted drivers in our algorithm over at The Value Builder System™.
As a business owner, you’re likely proud of the results you’ve achieved in the past, but when it comes to the value of your business, your future is critical. That’s why your growth potential is one factor we measure over at The Value Builder System™, where we calculate and help you grow your business’s value.
Where sales are concerned, the past rarely predicts the future. A major competitor can enter the marketplace, and a once-hot product line can grow cold. The result? Your hockey stick-shaped growth trajectory can unexpectedly tail off — and with it, the long-term value of your business.
Most founders will tell you that a three-year earn-out feels like a prison sentence. They toil in the bowels of
Section 1: Why Create Standard Operating Procedures What Is a Standard Operating Procedure? A Standard Operating Procedure is a set
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.
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.
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
What’s your greatest strength as a CEO?
Sales?
Marketing?
Operations?
Whatever you do well, know that it might become your Achilles’ heel.
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.
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.
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.
Adding some recurring revenue to your business is arguably the fastest way to grow your company’s value. Recurring revenue is so crucial that it is one of the most heavily weighted drivers in our algorithm over at The Value Builder System™.
As a business owner, you’re likely proud of the results you’ve achieved in the past, but when it comes to the value of your business, your future is critical. That’s why your growth potential is one factor we measure over at The Value Builder System™, where we calculate and help you grow your business’s value.
Where sales are concerned, the past rarely predicts the future. A major competitor can enter the marketplace, and a once-hot product line can grow cold. The result? Your hockey stick-shaped growth trajectory can unexpectedly tail off — and with it, the long-term value of your business.
