As a business owner, do you know what your business is worth? If you were trying to sell your business, do you know what someone is likely to pay you for it? The reality is that it’s always hard to know what a business could truly sell for. However, instead of avoiding the question, trying to answer it is critically important. By measuring your business by external metrics, you quickly get very clear about what adds value to your business. As business owners, we have a fiduciary responsibility to add and build value for our businesses.
It’s essential to measure this regularly and consider your business’s worth as the TRANSFERRABLE asset you are creating. If the market worth you are building in your business is all about you as the owner, it may benefit the business in a real sense, but you won’t ever be able to actualize a payout of that worth. So the business worth that matters ultimately is the price you can command upon a sale.
Even if you think you are nowhere near ready to sell, it’s still essential to think about the value of your business and how you are growing that value. This will help focus you as a business owner to measure how you continuously increase your business’s value. It will also help you in your planning. Valuing your business is an important element of contingency planning because we never truly know what will happen to us, and it’s always beneficial to have clear ideas about what would happen to your business if something suddenly happened to you.
At Zumifi, we can help you think about your business valuation, and track increases yearly. In the situations we have experienced, the average valuation increase has been 60-100% year over year! Therefore, we can help you increase the worth of your business by continuously driving your business to grow in value.
In conclusion, knowing what your business is worth and how you can increase its value continuously is essential. At Zumifi, we can help you measure and track your business’s value regularly and provide the necessary guidance to help you grow your business’s worth.
Contact us today to learn more about our services and how we can help you build a successful business that will command a high price upon a sale.