Are You Asking the Right “People Questions”?
Would you enthusiastically rehire every person on your team? What are the right seats? Do you have the right people in those seats? Are those people doing the right things? Are they doing the right things right? These are questions you need to be asking quarterly.
Achieving Valuation Potential
If you don’t have good answers to the above questions, you are throwing away a ton of money. In my article “Are You Maximizing Your Business Valuation?” I referred to an owner who lost approximately $5 million or one-fourth of his sale price when he sold his business prematurely because he could not obtain external financing. One of the ways we turned around his business to become attractive to buyers was by answering those questions. We increased growth by 70% and cash and profits by significantly more than that in nine months by addressing most of the people questions. Had he fully addressed the questions, he would have achieved more of his valuation potential.
Cutting Corners When Filling Positions
Have you tried to cut too many corners when filling your positions? Are you underinvesting in human resources, finance, and marketing functions? There is usually a lack of recognition for the value strong people can bring in these functions, often leading to significant problems throughout your organization. For example, do you have a good finance person on your team that proactively analyzes your operations and tells you which customers are unprofitable and the financial implications of your many decisions? Do you have a human resources person that comes up with creative strategies for attracting and keep top caliber talent without bloating payroll levels? Are your marketing programs generating lots of leads for your sales team?
If you are interested in maximizing the growth and profits of your business and willing to implement processes that help you make the right people decisions, let’s schedule a time to further discuss your business. Call us for a FREE consultation (305) 722-7213.