There are few professionals that don’t put at least some time into networking. After all, the old saying goes, “It’s not what you know, it’s who you know.” Whether you’re networking with clients for sales or with leaders in the field for partnerships, there’s value in every relationship that you build.
But, for busy business owners, ...
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In a world with a fast food burger restaurant on every corner and a gas station on every block, you may be surprised that so many places that do the exact same thing or sell the exact same product can co-exist in one area. What is it that makes people choose one over the other? ...
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It’s hard to quantify all of the talents, strengths, and flair that your employees possess. In fact, calculating the dollar amount that an individual is worth can feel a little distasteful.
Skipping this critical process in the valuation of your company, though, leaves money on the table. Whether it’s their ability to stay calm in a ...
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If there were one facet of business value that ranked as highly as year-over-year profits, it would be intellectual property. Everything from patents to trade secrets are worth something on the market, especially if it plays a major role in the success of your business.
As you near your business transition, it is imperative to use ...
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When it comes to having know-how, you have to know what can your business do that no one else can?
It’s a tough question to answer, especially if you work in a market that already seems saturated with companies selling the same product or service as you.
Often, though, we forget about the accumulated knowledge that the ...
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In our ever-growing series on increasing your business value before your transition, we’ve explored concepts like social capital and quality of life. These often intangible concepts rely on circumstances mostly outside of our control, such as how our communities view our business or the current social climate.
With assets, the main determining factor of their role ...
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It takes money to make money, and perhaps the biggest evidence for that fact lies firmly in the concept of business capital.
Before your business began operating, you likely had to make some pretty sizeable investments in equipment, property, and advertising. You did so in the hope that creating enough capital would help you sell your ...
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There’s a saying that “It takes a village to raise a child,” and much the same can be said for a business. From stakeholders to fellow business owners in your community, it pays to build strong connections, or social capital. Without it, you are going to find it almost impossible to remain successful in your ...
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A few weeks ago, we looked at the impact that brand value can have on a business. Making a name for yourself in your community, demographic, or market, whether that is positive or negative, is going to have a huge impact on your sales. Like the other side of the same coin, quality of life ...
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If your brand means something to your community, your business is going to be more worthwhile to your buyers. Brand value plays a huge role in the attention that your business is going to get when you’re ready to sell. If you are seen as an integral piece of your community, region, or market, customers ...
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