How To Scale Up Your Service Business
Increase the value of your company by training others in your area of expertise. It can be tough to grow a service business. Clients are typically buying your expertise, and if all you have to sell is time, the size of your business will always be limited by the number of hours in your day. One […]
What's so special about the million-dollar mark?
If you’re wondering when is the right time to sell your business, you may want to wait until your company is generating $1 million in earnings before interest, taxes, depreciation, and amortization (EBITDA). What’s so special about the million-dollar mark? The million-dollar mark is a tipping point at which the number of buyers interested in […]
Will your business be more valuable this time next year?
For many, June is a time to take a vacation, as well as a time to reflect on this year’s achievements and set goals for the year ahead. Most company owners will set business goals that focus on hitting certain revenue or profit milestones. But if your goal is to own a more valuable business […]
Six ways to profit from your vacation this summer
The sunshine is beckoning, so go ahead and take a vacation – if you follow the six steps here, you may end up with a tan and a more valuable company.
Thinking Vs. Doing: The Owner’s Dilemma
There’s a steady breeze from the northwest, which cools the warm Caribbean afternoon. Framed between a palm tree and the turquoise water, you notice a man reading. He appears to be working, which seems strange given his appearance: shaggy blonde hair, linen shirt, surf shorts and flip-flops. You squint and realize the man is Richard […]
6 Reasons Not To Diversify Your Business
Diversification is a great approach for your stock portfolio, but when it
comes to your business, it may be a sure-fire road to mediocrity.
What a Study of 14,000 Businesses Reveals About How You Should Not Be Spending Your Time
In an analysis of more than 14,000 businesses, a new study finds the most valuable companies take a contrarian approach to the boss doing the selling. Who does the selling in your business? My guess is that when you’re personally involved in doing the selling, your business is a whole lot more profitable than the […]
Prevention is better than cure
To grow a valuable business – one you can sell – you need to set up your company so that it is no longer reliant on you. This can be easier said than done, especially when, like a PR consultant or plumber, what you are selling is your expertise. To scale up a knowledge-based business, […]
Justification for Your Next Vacation
A recent survey by The Value Builder Score found companies that would perform well without their owner being present for a period of three months are 50 percent more likely to get an offer to be acquired when compared to more owner-dependent businesses. The better your company is able to run without you, the more […]
The C-word and 7 Others to Avoid in Business
The majority of businesses operating in North America today started out as service companies. If you want to start a web design firm, you don’t need a lot of money; just some technical know-how. Enterprising professionals who know how to get the media’s attention can start their own public relations firms without much more capital […]
