Eight million dollars a year in sales. She was paying for her accountants to get her reports. At the end of each month they would go into each of her bank accounts and credit card statements and produce reports. She had never had a bookkeeper or accounting department. EVER.
Forty five million dollars of cash coming into the business without the typical hard costs associated with that level of sales. A small staff to manage the swag, the communications, and so on. It’s just one example of a company getting really creative about cash because again, the more cash you can get your company generating, the more valuable it will be to a prospective buyer.
It’s not about customer loyalty, or how nicely your customer service folks answered customer questions. It’s asking clients for their feedback, you know what you’d better be working on in the next six months.
How much of your day are you the air traffic controller for your company? Playing all the positions on your team? Making every key decision and driving all the activities and functions?
Where we want to get to over time is selling just a few things to lots of customers. Now, that may sound like a just a turn of a phrase, but in fact, it’s a wholesale change in the way you think about and take action in your business.
To match competitors or not to? “Hey Linda. I give great value to my clients and customers because I meet…
If you’re anything like the owners I work with, you’ve got all the industry expertise, the knowledge about what customers want, all the members of your team are pulling in the same direction and getting great results. You’ve even got a great sales process and team in place.
And despite all of that, with growing revenues year over year, you’ve just found out that what you could potentially get in the sale of your business is appallingly low.