“Success is not final; failure is not fatal: it is the courage to continue that counts.”
~ Winston Churchill
Your company will be valued on many things. Sure, your revenues and profits will factor into your valuation, but so will:
The quality of your team: do you have well trained employees that expertly perform?
The quality of your revenues and customers: do you have a handful of huge clients versus tons of smaller clients? Do you need to re-sell tons of new clients every month, or do you have residuals (clients that pay you month-after-month)?
The quality of your systems: do you have systems in your organization that enables it to run without you? Do your systems ensure consistent and high quality production? Do your systems provide cost or time advantages versus competition?
The quality of your product or service portfolio: do you have a portfolio of products or services that would be challenging for your competitors to also create and/or offer?
The quality of your partnerships: do you have marketing or production partnerships that you can leverage to more expertly serve or gain new customers?
Build these organizational assets and you will build a more valuable company.
How to grow your business to $1M… $10M… and beyond
Would you like to have a multi-million dollar business?
Copy My Million Dollar Formula <—
I’ve personally followed this plan to build several multi-million dollar businesses…
And I’m handing the entire formula to you on a silver platter.
Today’s Question: Milton S. Hershey founded what successful candy company in 1886?
Previous Question: McDonald’s founder Ray Kroc once famously claimed that McDonalds was not in the hamburger business. What business did Kroc say he was actually in?
Answer: The Real Estate business
Ray Kroc knew that even with all his great systems and marketing/branding, the key to success in retail businesses is location, location, location.
By choosing the right real estate locations, success would come much easier.
The same is true today. If you own a retail business, choose your location carefully. Likewise, choose your website address carefully. You don’t want it to be too long, or too hard to spell, or you’ll lose out on a lot of customers. (Note that while I love our name Growthink; with our website at Growthink.com; we still do have people try to go to growthlink.com (note the “L”) and growthinc.com (note the “c”) which is not ideal).
Join our Tip of the Day
To get Growthink’s Tip of the Day delivered to your email inbox, enter your information below: