The 8020 Blog

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What makes a business a salable business as opposed to a collection of people who work together and bring in some money but that is worthless when it comes to selling ?

Well for starters buyers will be looking for processes that reliably and predictably bring in new clients, convert them to customers (repeat clients) and keep them for as long as humanly possible.

Astute buyers will also be looking for evidence that the effective running of those processes is not significantly dependent on one person, be that the owner or another key player.

I think it was the great Peter Drucker who said that regardless of whether or not you want to sell your business you should aim to have it in such a condition that it is ready to sell at any time.

The key is to break both the marketing and product/service/value delivery down into a series of teachable steps. When you do that and prove that it works by bringing in significant amounts of cash then your business will be worth millions. Literally.

Worth thinking about?

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The majority of businesses can’t be expanded beyond the capacity of the owner’s time for three reasons.

The first is the lack of proven marketing systems that generate quality leads coming into the business on a regular, predictable basis.

The second is the lack of a documented, teachable sales process that converts the leads into clients.

The third is the lack of a documented, teachable value delivery process that fulfills client expectation (and more) and turns them into returning customers.

These last two have the power to take the owner out of the sales and delivery cycle and frees him/her up to do more marketing and more product/service innovation.

The lack of these three items not only stop the business from expanding, they also prevent the business from being saleable.

So to free up your time, to drive growth and to make your business worth (potentially) millions, focus on those three things.

If you want more on this the register for my zero-cost training coming up next week … you can click here to find out more.