Business Value Goes Beyond Profits
We’ve spent the last two months looking at and dissecting the eight key drivers of business value. These drivers help you evaluate your business in a broad sense of what potential buyers are going to be looking for when they are thinking about purchasing.
These drivers are important because they help you categorize and promote various, specific areas that your business excels in. These areas include:
Products & Services
What does your business offer? What are these products & services worth to customers?
What is it about your brand that makes people know who you are? What is your brand image?
Quality of Life
What does your business offer that makes people’s lives better? If compared to another business offering the exact same product, what do you do that makes your community a better place?
What relationships have you kindled with stakeholders, the community, and customers? What are people saying to others about your business? Who can your business turn to for favors, funding, and support?
What do you already own that helps your business run? What is the working condition of your equipment? What is the productive potential of your goods?
What do you own that adds value? What physical assets, such as a property, do you own? What digital assets, such as sales data, do you own?
How well does your business understand its function as part of the larger economic picture? What can you produce? What do you offer that’s worth paying attention to? What unique talents, methods, or systems do you have?
What kinds of trade secrets do you have? What copyrights or trademarks do you have? What makes your business’ process better than any other one in the same sector?
What can your employees do well? What talents do your employees have that make you a better company?
How can you outcompete other businesses in the same market? What combinations of all business values do you have that make you better?
What are your social and value expectations for your company? What is the culture of your company? How do you represent yourself? Does your company welcome change and challenges?
All of these examples of business value benefits can be more specifically categorized into one or more of the key business drivers. Each one helps bolster the driver’s ability to increase your worth in a buyer’s eyes. Creating a presentable document that explores all of these topics can help you make your sales pitch more successful.
Over the coming weeks, we’ll take a close look at the ways your business meets the standards of these business value factors. With a keen eye and an open mind, we can unlock your business’ true value potential using the strengths and benefits that you have already created.
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