Would you buy Your Business
Hi my name is Gordon D Silva and one of the questions I got asked this week was how much is my business worth and unfortunately the answer really shocked my clients.
I just go through the principles I wear and talk to the splines about when he asked me the question how much is my business worth I want to sell out and the story behind.
It is that this client has been a client for some years in fact he left us for a brief period for cheaper accountant and then came back to us.
When he found the service wasn’t terribly good but that’s that’s neither here nor there but he’s been a client so
We understand the clients are quite a bit.
He’s been only a reasonable living but he’s been getting older you know.
It’s like all of us to do and he reached the point in his life.
Where he decided you know I don’t want to do this anymore.
It’s too too much like hard work I want to do something else and what the catalyst for that is that.
He is working in a physical field and his colleague.
Who was working with him one of his apprentices or assistants.
Shall we call him I fell down the stairs and broke an ankle and on the job this is and all of a sudden the guy can’t work for six weeks the eight weeks maybe.
He said look if that happened to me would be devastating it would build of work and would milder than any money.
I need to sell out how much is my business work and.
I actually said to him it’s worth nothing anyone what you know how can it be wort nothing iron you know X thousand pounds from it so.
I said well the reason you are in X thousand pounds for me is because you work really hard and if as.
You said when you talk to me about.
If you broke a leg or something if you don’t work.
You don’t own any money and as a result who would buy a business.
That didn’t work you know if they weren’t there you know you might as well.
Start your own business and and work for a living them is nearly like a job isn’t
It you may have a little bit more income but it’s really like a it’s really like.
A job and so you’ve really got to think about you know what your business is worth in terms of has.
It got the potential of giving you an income
Whether you turn up or not now when I say when you turn up or not sometimes.
You can turn up for one day a week and it provides you an income that’s pretty good isn’t it no or two days a week or
three days a week but.
What if you couldn’t turn up for for three days a week would you lose all your income or would that continue and that would that depend on determines what your business is worth.
Now the more systematize your business is and that’s why we talk a lot in our in our board meetings on the garb a model on systematization on replication or automation.
These things are critical to making sure.
Your business runs without you as much as the legally logically legitimately possible because if you do that you’re
going to get the leaf so the positive fallout of that which is first of all.
You’re going to earn more money in less time right you’re going to earn more money with less of your efforts.
Second Thing :
The second thing is you’re going to be earning more because you’ll have more time to do other things that may own
money.
Third Thing :
The third thing is you’re going to have more freedom of time which means that you could do whatever you want.
When you want it most of the time right and of course you have the freedom of income with that.
When it all works really well on an ongoing basis and I’m also saying sort of happen within six months.
Just because you do this it takes a lot of time to get it working and when.
I did it years ago it took me seven years to get the system looks and working and another seven to get to get most financial freedom right.
Which means I can do anything I want whenever I want nothing could hurt me now it takes much less time because.
We understand we understand the model and as a result of that.
We know what it’s going to what it’s going to take to make sure that we achieve the results we want to achieve with clients
But that is in itself the secret of it you know you get your system working you get other people to run the business.
In your stead because they’re following the systems it you’ve identified that make the business work and your time is spent.
Improving systems your time is spent making sure the systems are working your time is making sure that you can respond to the market.
In your and your offering what the market demands it and changing and a more rapid pace than.
It’s ever changed in my experience in the last 40 years where we’re rapidly changing with technology and you know there is so much opportunity out there.
But there’s also so much risk if you don’t if you don’t keep up and and so the Varian is the crux of it is your business could be worth nothing.
Or it could be worth a significant amount 3-4 times the average because it is so systematized.
And can work without you so I’m going to leave you with that thought and and just thinking for yourself how much is your business worth now we’ve put together.
A very rough and ready tool is still in progress but just looking at just look for it on our site it will be launched in the next couple of months.
When the program is it finishes and we happy but.
It’s a really simple tool of putting a couple of variables in and getting a sense of how much your business is worth and then you can still play around.
What if I change.
Whether you can go well what if I change.
These variables how much could my business be worth and you’ll begin to see how much dramatic change not only in business value which is really important.
But more important is the short term income Rises you could get as a result of doing that and then so you know.
I really implore you to group think about the value of your business how systematize.
It how was it run without you what would happen if you were in there and do you have enough time to do all the things
You want to do or you too busy doing it doing it doing it do it every day.
Because you’re just stuck in the business and your business is so reliant on you .
I don’t know what the answer is for you all I know is you know for most people I speak to it is far more attractive to have a business.
That don’t have to work it they can choose to work in cement for example in my business.
I don’t have to work in my business you know I have systems for everything we do but.
I really love what we do I love working with businesses to help them
Increase their profits and value attitude to build here good quality lifestyle because in my opinion.
There is no better way of of building wealth and freedom then through an owner manage business .
There is actually none and so my wish to you that you begin to you that light bulb lights up for you.
You go on you know this could I could do this and then you go out searching for.
How to do it and the methodologies and you go out setting to work on it and you can either do it quickly or slowly you know if you
If you want to discover it for yourself you know there’s plenty of tools out.
There has never been a bit of time to find information unfortunately too much.
Information and chances are what you need as a business owner is targeted.
Information targeted action targeted insights that will get you there faster not discovery for yourself .
Yes you could learn to operate on yourself and become a doctor on a suspect or you can just go to a specialist and get it dealt with.
Fast which whichever way you like to do.
It is right for you you take care of yourself I’ve given you a few insights and give you some food for thought
I just want to speaking to you as and when I parked cross in the meantime.
The other various other blogs that help you get insights in your business.
Please enjoy them and you know log into our site on gordonsknight.co.uk
And you’ll find lots more information there on our blogs and some of our services.
You take care of yourself goodbye
