Before making changes to grow your business, you will want to know its current status. A good place to start is with your financial statements. By measuring your financial ratios before and after making changes, you will have metrics to quantify performance. Financial statement analysis compares your financial ratios to those of similar businesses in your market area.
A business valuation is an opinion of its fair market value. Valuations are generally conveyed by written report and are calculations of the price a business will sell for in a voluntary transaction between buyer and seller when neither is under obligation to buy or sell. A valuation gives you a benchmark from which to measure the results of any changes you make to your business. Our valuation subscriptions include a series of discounted annual valuation reports to keep you informed as your business changes over time.
A technology audit is a review of business hardware, software and systems used in your business process. This helps identify business problems and potential solutions to streamline your business process. Traditional business processes have been executed on desks in office cubicles, usually with lots of paper. New technologies and tools are available to improve your business process. Using the Internet to get more work done in less time while reducing costs and risk is no longer optional. If your team does not adapt to current technology, it will not survive in today’s competitive marketplace.
If you’re like 95% of the entrepreneurs in the U.S., you’re trying to: get everyone on the same page, take your business to the next level, get the right people in the right seats, create discipline and accountability, enhance profitability, or position your business for a successful leadership transition or exit. The bad news is these challenges are real and will tax your energy. The good news is there’s a solution that’s neither complicated nor theoretical. Its been used by over 5,000 small and mid-sized businesses. Its called The Entrepreneurial Operating System® (EOS) and its a powerful, practical and simple business management program that will help you achieve the business success you deserve. We are affiliated with some highly accomplished executives who love teaching entrepreneurs how to master EOS.
Eric Schmidt says the best advice he ever got was to hire a coach. Numerous studies have confirmed that CEOs have more to gain from intelligent counsel than any other person in your company. You know the issues and get the opportunities:
In addition to hiring a seasoned business coach, it is extraordinarily valuable to establish a board of advisors or a board of directors to enhance your reach, network, perspective, insights, and ability to achieve your biggest dreams.
At various points in the growth of your business, additional capital may be a beneficial catalyst. Investing capital in your own profitable business often produces excellent rates of return. By investing in your business, you should be able to increase sales, improve margins and earn more money. A capital raise is the process of raising the money required to invest in the growth of your business.
it’s important to know the current value of your business to stay informed. Most people check the price of their stocks and bonds once a week or at least once a month. How often should you check the value of your most valuable asset (your business)? Once a year.
From time to time you may want to harvest money from your business. Planning these events well in advance can help insure your business and personal goals are met. Whether you want your business to continue under management of family members or may be considering a sale to a strategic buyer, the day you get paid is called a liquidity event. Planning this process helps improve your odds of achieving your goals.
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