For every business owner, it’s likely that you’ve got freedom, time, and personal success on your mind – both in your business and in your personal life. With that in mind, I figured that I’d take the time to explain to you just how you can transform your business into a sellable asset, while also improving the stability of your business in the long-run. In this blog, I’ll share with you one of my favorite little known strategies to help you improve your business and add value.
It all begins with simplifying your business to help you multiply your profits.
Crushing It & Scaling Your Business Without Sacrificing Time & Freedom
For far too many entrepreneurs and business owners, they think that 80 hour weeks will help them grow and scale their business. While that might be true, is it really worth all of that time and effort?
Think about it this way, if five, ten, or 20 years, when you want to sell your business, how marketable will it really be when you tell the potential buyer that you’ve put in 80 hour weeks for the last number of years? Instead, it’d be a much more productive conversation if you could claim that a 30 hour work week will give them the profit they’re seeking, along with the freedom that every business owner wants.
How To Do It
It begins with embracing Leader Standard Work (LSW). These include your standards of operations – so, for instance, how you acquire clients, how you market your business, how you nurture leads into paid customers, etc. You’ll be turning over your LSW with your business when you go to sell it. By standardizing all of the above, you can effectively market and sell those standards.
In other words, “this is how we do things,” isn’t something that just exists in your head. It’s a tangible operating procedure that demonstrates proven success.
Accountability & Productivity
When it really comes down to it, Leader Standard Work allows you to create a thorough system
of accountability and productivity. When everyone knows the standard operating procedures, there are no guesses as to what is expected of your team members in any given situation or in any given environment. Whether you have teams in the office, or remote teams working from home, when everyone knows what is expected of them, how tasks are supposed to be completed, and where their level of productivity should be based on a standard set of principles, you have the ability to essentially market a business that virtually runs itself.
Transparency & Value
Because Leader Standard Work is clear and transparent, work is able to be completed on time and in the order in which it should be completed. If you’re trying to position your business for success today, tomorrow, and well into the future when there’s a change of ownership, LSW is the way to do it.
