If you have resolved to make your company more valuable in 2021, you may want to think hard about how your customers pay. If you have a transaction business model where customers pay once for what they buy, expect your company’s value to be a smaller multiple of your Earnings Before Interest Taxes, Depreciation and…
If you’re trying to figure out what your business might be worth, it’s helpful to consider what would be buyers are paying for companies like yours these days. A little internet research will probably reveal that a business like yours trades for a multiple of your pre-tax profit (+ add backs) for a small business…
🎤 Podcast Interview just landed: Interview episode with myself and good friend Jesse Green from Savvy Dentist Podcast just landed.
⏱👨💼💰 I know every business owner running team will get value out of it.
If you were to draw a picture that visually represents your role in your business, what would it look like? Are you at the top of a traditional Christmas-tree-like organizational chart, or are you stuck in the middle of your business, like a hub in a bicycle wheel? Business owners generally avoid hub-and-spoke self-managed businesses…
Why would two companies in the same industry, with the same financial performance, command vastly different valuations? The answer often comes down to how much each business is likely to grow in the future. The problem is that a lot of successful businesses reach a point where their growth starts to slow as the company…
The ultimate test of your business can be found in a simple question: would someone want to buy your business? Whether you want to keep your business or to sell next year or a decade from now, you must be building an asset someone would buy – otherwise, you have a job, not a business. …
Have You Fallen Into The Mile Wide Trap If your company’s turnover has stalled after a period of rapid growth, you may have fallen into The Mile Wide Trap. Consider the case of Kim (not her real name) who runs a public relations firm. Kim studied marketing at school and went on to work for…
So you’ve done the hard work of winning a new customer, but it’s what you do in the next 100 days that determines if it’ll stick around.
A productive day is defined with what you choose to achieve as much as to what you purposefully choose to leave out. Keeping a detailed list of related priorities in your head can be hard, even for the best of us. It’s not the best use of our mental capacity, anyway. There is a great…
When business owners get stuck working ‘in’ the business, there are two things that business owners start to find challenging very quickly: thinking ahead and doing things in order of importance. Losing control and not doing these two key activities make the difference between just surviving in business and owning a successful, profitable and predictable…
