How to grow a business that can run without you
How to grow a business that can run without you is a vital strategy if you plan to sell your business at some time in the future. Too many of the business owners I meet in the East Midlands spend too much of their time working IN the business as opposed to ON the business, resulting in them being an intrinsic part of day-to-day decisions that could be delegated.
I spoke to an Accountancy firm a few months back and they suggested that the multiple of profits that were achievable when selling a business can be significantly increased if the business can run without the owner as part of the deal, so I always advise my Growth clients to review their strategy to increase their ability to delegate decisions to others within the business. There is a must read article from Inc.com on this subject, which you can read by clicking here. I urge you to take ten minutes out of your hectic schedule to read it – and then do some soul-searching about how you can make some changes to help your business if you want to maximise the valuation of your business – plus it makes sense to free you up from the minutia in any event.
If you need any help modifying your processes to reduce your involvement, or just need some help to grow your sales faster, then call me on 01664 840763. I am a registered and approved GrowthAccelerator Growth Advisor and MAS Consultant to SME’s operating in Derbyshire, Leicestershire, Lincolnshire, Northamptonshire, Nottinghamshire and Rutland.