Increasing the value of your small business has a number of benefits from building a stronger more resilient company to preparing your business for a sale in the future. In the following article you will learn five strategies a business owner can implement to increase the value of their business.
Strategy 1: Build Your Team Early
While you may not be preparing for a sale just yet, it is never too early to get your key business contacts in order from your business broker and your attorney to your financial planner.
Strategy #2: Books & Records
Making sure that your finances and taxes are in order is imperative to the success and strength of your business.
Strategy #3: Remove Yourself
Train key employees on your day to day responsibilities. The more your business can run itself, the more valuable it becomes.
Strategy #4: Reduce Concentration
While it is exciting to have a big customer buying your products, what if they suddenly move on?
To learn Strategy #5 and gain access to our full white paper, "How to Maximize the Value of Your Small Business," click below to download.
Rachael Holstein joined the Transworld Team in 2016 as Marketing Coordinator. Her working experience has been largely focused on Business Development and Marketing in the finance, architecture, property management, and information technology industries. A longtime resident of Cleveland, Ohio, she attained her Undergrad from John Carroll University and a Master’s Degree in Global Interactions from Cleveland State University. She relocated to Denver in 2013 for a change of scenery and a bit of adventure.
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