12/16/2021 Tip: The 4 S’s to Increase Your Business’ Value | Growthink

12/16/2021 Tip: The 4 S’s to Increase Your Business’ Value

Today’s Quote

“You have to learn the rules of the game. And then you have to play better than anyone else.”
~ Albert Einstein

 

Today’s Tip

The following business assets will strengthen your business and increase its value:

  1. Subscribers & Customers – Your customer base is one of your biggest assets, and represents the chance to market repeatedly to the same people. You should always be looking to grow this asset.
  2. Systems – Who does what in your business? What are the recurring tasks that someone will need to perform over and over and over again? What is the correct process for each of these, and the steps involved? Ideally, these processes and checklists will have been mapped out and followed as “the way we do things here.”
  3. Solid Team – It takes time, trial, and error to find the right team, and much more time after that to coach and develop them to be able to run the business without you. This is also part of the work involved with preparing a company for sale. Between documenting systems and this, having exceptional people is much more important, because the right people will be willing and able figure out how to get results without having it all spelled out.
  4. Software, Technology & Hard Assets – These business assets include software, real estate, machinery, inventory, web properties, etc. which help you run your business more effectively.

You should always be thinking about how to grow these business assets.

 

Today’s Resource

How to Build a $10 Million+ Company in 2022

What’s the difference between successful multi-millionaire entrepreneurs and the typical small business owner just struggling to get by?

Well, there are a LOT of differences, actually…

But I’ve summarized the main differences on this page:

How to Build a $10 Million+ Company in 2022 <—- 

The really interesting part is that you don’t have to work yourself to death to grow a wildly successful, eight-figure business…

In fact, when you follow this formula, you can make much more by working less…

How to Build a $10 Million+ Company in 2022 <—- 

 

Trivia

Today’s Question: What popular product was founded by 7 Italian brothers who were adept at making airplane propellers?

Previous Question: What did Nokia originally sell?

Previous Answer:  Paper.

Nokia’s history started in 1865 when mining engineer Fredrik Idestam established a groundwood pulp mill in southwestern Finland and started manufacturing paper.

The company has evolved significantly over the years, and today, Nokia is most known for its mobile telephones and portable IT devices.
 

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