The 5th Commandment Of Value Building For Small Business Owners

For me that includes participating in discussions, taking responsibility for themselves, for collaborating and assisting others. They are hungry to learn so they see new opportunities and possibilities. They implement fast. They send referrals. They pay on time. They express their appreciation. These are the criteria that make somebody a great client.

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The 3rd Commandment Of Value Building For Small Business Owners

When a client says “Hey! Could you also solve this OTHER thing?” the natural inclination is to say “I’ll look into it!”

And what happens next? Well for Jane, she and her brother ended up with an import business that had 3 warehouses with 10,000 different inventory items on the shelves. Lots of that inventory was slow selling, sitting on pallets.

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The 2nd Commandment Of Value Building For Small Business Owners

Here’s what I uncovered. All that talk about ‘best practices’ that everyone is supposed to match in their industry resulted in nothing but look-alike companies. And that meant customers would price shop for the lowest price, and it was a race among all the competing companies. A race straight to the UN-profitable bottom!

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The 1st Commandment Of Value Building For Small Business Owners

If that business owner had spent the time straightening out those 8 drivers, on the same original 200,000 in profits, the multiple would have increased to say 5… and the street value would have been one million dollars at the same level of sales. And if sales and profits grow that same 20% – NOW the business is valued at $1,200,000. So in just a couple of years, the value has doubled for that business owner.

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