What would scare someone from buying your business today?

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A client of mine is planning to sell his business in the next three years. A question that came up during our discussion was; how do I build and structure my business so that it would attract the right buyer?

Looking at it from a different angle is: “What would scare someone from buying my business today?” Once you have identified that, you can start filling in the gaps.

My perspective is that you, as the current business owner, should make sure that your business has the right capabilities to guarantee long term sustainable results.

This means that every decision that you make must be directed toward building value into your company, even if you don’t intend to sell it for years to come.

After all, you want to have a business that provides you with the lifestyle that you desire.

Whether you keep it of sell it, your business must be attractive enough to suit your own lifestyle, or that of your potential buyer.

What will make your business appealing to you, or a prospective buyer?

  • A healthy income stream: Do you have a system that has been tested and proven over time to bring in a consistent income stream?
  • A handsome profit: After all that is why most businesses owners invest their precious time, energy and effort into building their businesses.
  • A proven marketing and sales machine: This is a system that produces consistent leads from your ideal target client base, which is converted into sales at the right value.
  • A strong customer base: Who appreciates the value your business is producing for them, and therefore comes back more often and refers your products and services to other potential customers.
  • A structured, efficient and systemized process flow: That delivers excellent customer service on a consistent level.

The question that you should be asking is: If I were to leave my business now, will there be control, or is it going to be chaos? The more the business relies on you, the less valuable it will be to you, or to your potential buyer.

In my opinion every business should be made ready to be sold, even if you plan to never sell it. In that way you can get the most value out of your business.

It’s never too late to start setting your business up as if you were going to sell it. In so doing, you will be ready should the need arise, rather than regret what you could have done earlier.

 

I can show you the power of coaching and the impact that great coaching can have on execution in your business – and your life.

Your ability to execute; your sales performance

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Does your ability to execute drive great sales performance?

One of my top clients asked me the other day; how should you manage a sales team?

Knowing that his sales have grown by over 200 percent in the last 12 months we rephrased the question to “How do you lead a good sales team to become a great sales team?”

In my experience, most business owners don’t know how to manage their sales team to perform above the average, industry norm.

Some of them do get good results, about 10 to 30 percent above the industry standard, but very few manage their sales team to greatness: Leading the industry, and then, going beyond.

For me, the big question for each business owner should be: what would drive great execution?

  • Does it come from the Vision/ Mission of your company?
  • Does it come from your company’s core strategies?
  • Has execution been developed as a core competency in your company?
  • Does execution come from a great plan?
  • Does your company have clarity in both its expected outcomes and the KPI’s that drives its performance?
  • Does your company have a great USP – Unique Selling Proposition – that could drive great execution?
  • Does your company have a high level of Ownership, Accountability and Responsibility? (You should strive for the highest levels)
  • Does your business culture include the best elements of execution?
  • Are your employees educated on the importance of execution?
  • Is execution linked to some or all of the above questions?

Here’s a challenge: I encourage you to rate yourself on a scale of 1-10 on the above questions, and to identify the areas that would have the biggest impact on leading your sales team to great sales performance.

For some added insight on execution, go study and implement the information in Guy Kawasaki’s article the “Art of Execution”

I can show you the power of coaching and the impact that great coaching can have on execution in your business.

106 Excuses That Prevent You From Ever Becoming Great

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What is the one thing that you must ‘STOP’ doing on your journey to achieve greatness?

In many cases it is not what you must start doing that will move you forward but rather what you must STOP doing that will enable you to succeed.
With 2012 in sight make a choice to eliminate one or more excuses that you know are holding you back.

Click here for 106 Excuses that prevent you from ever becoming great.

Does your business’ uniqueness at least double your sales?

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When was the last time that you objectively reviewed the difference that you bring to the market? How would you know that you have a strong, relevant differentiation from your other industry players?

There are two quick ways in which you can test this. In the first test; take your advertisement, cross out your name and write your competitor’s name in instead. If your offering is as true for your competitor, as it is for you, then you know that you do not have a strong differentiator. The second test is to look at your sales performance. One of the biggest reasons why businesses do not perform awesomely in their sales is a lack of a strong differentiator. They can therefore not communicate clearly to their identified target market.

The competition is tough out there and more choices become available every day for your clients to indulge themselves in. Your biggest opportunity will lay in how you focus and convey your unique selling proposition: What are the things that you bring to the table that your competitors can’t match? Are you really clear on it yourself?  If you are not clear on it, just how clear can your team be on it and what are the different messages they communicate to your prospective clients? Can you imagine just how much money you have left lying on the table; attributed only to a lack of clear vision defined through your unique selling proposition?

Try writing your unique selling proposition out this week. In today’s economy – more than ever- time is money. How are you going to use that to your advantage?

Ever thought of building your dream business in the fastest possible way?

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One thing that I found common amongst most business owners is that they want to build their dream businesses but struggle to build it to that point.

The good news is that every business person has the potential to build their dream business.  I believe that you have the capacity to an Abundant life.

In my view you can have awesome results when you build your business on the following three pillars:

BIG Dreams. How big is your dream? What will be great for you? What is significant for you? If your dream is not big enough you will loose steam along the way.

Inspired goals. Does your goals ignite you? Bring the fire out in you? Does it serve your purpose and add meaning to you and others? If your goals do not inspire you then you probably do not have the right goals or you must add more meaning to them.

Consistent Execution. How clear are your goals, plans and strategies? Do you have a performance culture in your business? Who holds you accountable to execute your plans in pursuing your goals? What measurements provide you with the evidence that you are on the right path?

In the following weeks I will share with you some of my insights on how you can create an Abundant life through your business.

Look at your situation and assess where you are in terms of the above areas. Make a decision now to start with one thing that will make a difference for you in your life.