Is Your Business Valuable?

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Is Your Business Valuable?

Encourager-In-Chief: January 27th, 2016

What is the easiest way to determine if your business is valuable?

Make sure it is duplicable.

Why is this so important? Well, let’s think about McDonald’s. When Ray Kroc bought the hamburger restaurant from the McDonald brothers, it wasn’t because he had a burning desire to stand over a hot grill and flip burgers. Ray Kroc’s genius was in understanding that if you took a simple, popular formula and could duplicate it anywhere in the world, you could become a multimillionaire.

So I ask you, “is your business duplicable?” The easier you make it to replicate, the easier you make it for somebody else to buy. You love your brainchild. You created it, but if someone else is going to buy it (and make no mistake, you DO want somebody to buy it), it has to be easy enough for them to get the same results you did.

This is why it’s so important for you to understand your systems and structures. My great and talented financial planner, Lou Leyes of Stages Planning Group, taught me if you have to do something more than once, you need a system. I couldn’t agree more.

When you are operating your own business, you are constantly being bombarded with new challenges and interruptions. The sooner you make your business duplicable, the easier you make it for someone else to help you with the routine operations. That frees you up to handle an unexpected crisis or do the other things that you do best.

The real reason for starting a business is so that you can finally sell it!
- Michael Gerber

This excerpt is taken from my Survive and Thrive II: How to Create Automatic Money Machines seminar.

Survive And Thrive II: How To Create Automatic Money Machines

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