Creating Transferable Value in Your Business

Creating Transferable Value in Your Business

As you develop your business, often little consideration is paid to whether the value being created is transferable or not. Many business owners do not think about creating transferable value. Many think about how to grow their business and often fall into the trap of creating non-transferable value.

Below are the most common non-transferable values that business owners should be cautious of:

  • Leveraging personal relationships for buying or selling
  • Employing close friends / family members
  • Building the business based on your name
  • Special skills / talents that others can do not have

In order to build a business with transferable value, consider the following tips:

  • Document all processes. This will help the new owner understand your processes and remove any questions about special skills or talents.
  • Replace any family members with non family staff 2-3 years before selling. This will give your new staff members time to get up to speed in the new positions and will avoid a mass exodus when you sell.
  • Build your business on solid, duplicatable marketing and sales techniques that a new owner can easily implement. The best option here is to hire a person to do this or outsource this to a reliable company that the new owner could keep on after the sale.
  • Acquire patents for any unique processes or products. This creates a fully transferable asset of intellectual property and increases the value of the business with a patent on a unique process or product.

Creating a transferable value is difficult when you follow these tips. And the more you follow these tips, the easier it will be to sell your business when the time comes.

And, while you are busy working harder, but not smarter, many CEOs are totally FEDUP of your lack of creativity and collaboration skills.

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Work too much. Killing relationships.









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