Are you tempted to re-sell someone else’s product to boost your topline revenue? On the surface, becoming a distributor for a popular product can appear to be a simple way to grow your sales—simply find something that is already proven to be successful elsewhere and negotiate the rights to sell it in your local market.
One of the core principles of creating a more valuable business is ensuring it can run without you by getting managers to think like owners. The theory goes that empowered employees are the best positioned to solve your company’s thorniest issues, as they are the ones closest to the problems.
Increase the value of your company by training others in your area of expertise. It can be tough to grow a service business. Clients are typically buying your expertise, and if all you have to sell is time, the size of your business will always be limited by the number of hours in your day.
Increase the value of your company by training others in your area of expertise. It can be tough to grow a service business. Clients are typically buying your expertise, and if all you have to sell is time, the size of your business will always be limited by the number of hours in your day.
Small businesses stay small either by choice, or because they start chasing growth in the wrong places. When you strip away the layers, it all comes down to darts.
Repeat customers are the lifeblood of your business, but customers can be fickle. Here’s how to make them sticky. In a traditional business, the customer buys your product or service once, and it is up to you to try to convince them to buy again in the future.
For your business to be valuable – and sellable one day – you need some way to generate sales after you’re gone. Many business owners hire a superstar salesperson to replace themselves as a rainmaker but that’s a trap.
When was the last time you had your blood pressure tested? Taking your blood pressure is one of the first things most doctors do before treating you for just about anything. How much pressure your blood is under as it courses through your veins is a reliable indicator of your overall health; and it can be an early indicator of everything from heart disease to bad circulation.
The value of your company is partly determined by your industry. For example, cloud-based software companies are generally worth a lot more than printing companies these days.
If you were to draw a picture that visually represents your role in your business, what would it look like? Are you at the top of an organizational chart, or stuck in the middle of your business like a hub in a bicycle wheel?