Welcome back to “I’m a Millionaire! So Now What?”. I know you were expecting another conversation with a member of the self-made nation, but before we dive into another round of interviews, I want to chat about something that’s really going to help you. Perhaps you want to build a business that can thrive without you, that gives you more freedom and autonomy to explore your interests and new opportunities. But you’re not sure how to get out and sell the business.

 

As you know, I’ve been in wealth management for 20 years and have interviewed so many of you in the self-made nation about how to build more value, prepare for a cash-rich exit or how to work less. So, I’m excited to share a system that helps you do just that.

 

One that has been developed through the research of a fellow Canadian entrepreneur John Warrillow. He’s the author of Built to Sell, The Automatic Customer, and The Art of Selling. He also has a podcast called Built to Sell radio where he interviews peers across the globe.

 

Through a survey of over 50,000 businesses just like yours, a system emerged. That system includes eight drivers of company value. And it's known as The Value Builder System. It's designed to help you build more value and get prepared for an exit. Or to help you work less hard should you want to keep your legacy and impact. I’ll be rolling out aspects of this throughout this podcast, my blogs, social posts, elevated conversations, as well as in the programming for Double to Sell 2021.

 

It’ll help you:

• look at your company through the eyes of a potential buyer,
• identify and focus on the areas that could have a negative impact on your cash flow, a potential premium offer, your growth, and your time,
• to find opportunities and make improvements,
• create a plan for your exit, long-term growth and personal satisfaction.

 

My big, hairy audacious goal is to double the number of self-made millionaires in Canada. It's to support cash-rich exits for the self-made nation. And if you want more information on this and the value-builder system, sign up for my distribution list and when you’re ready, we can chat about how I can help you with this.

 

So, without more ado, let’s have a sneak peek at these eight drivers of value:

 

1. Financial performance

This is about looking at the history of your revenue, growth, profitability, cash flow, and record keeping.

 

2. Future growth

This is centered around your growth potential. Are there areas of future growth that you haven't tapped into?

 

3. The Switzerland Structure  

We all know Switzerland has a history of being independent. This driver examines the opposite, how dependent is your business on a couple of employees, its revenue and profits, key clients, or a supplier?

 

4. The Valuation Teeter-Totter

This is about cash flow, and the timing of cash inflow or outflow, to help you determine where you can make improvements.

 

5. Recurring revenue

Do you have a subscription base, recurring revenue, or automatic income? An annuity type of revenue is obviously going to make your life easier and your business more valuable and attractive to acquire. You could also get a dividend as a retirement payment.

 

6. Monopoly of control

How different are you from your main competitors? Are you niching down? Have you really gotten into your unique selling proposition? The more unique you are, the more you can set your own pricing model.

 

7. Customer satisfaction

Do you know your company’s net promoter score? This is one of the single greatest predictors of profitability!

 

8. Hub and Spoke

Are you the hub of your business? If anything breaks down, does the whole system break? Are you the bottleneck? And if everything flows through you, what happens if you take a holiday or things go wrong?

 

If you're interested in finding out where you sit in comparison to other businesses that may have aced these areas, how your business ranks in comparison to others in your industry, then I invite you to email me, contact me, or message me on LinkedIn. And I'd be happy to share with you the value builder score assessment. Or if you just want to learn more, sign up to my distribution list.

 

The Value Builder System provides the foundational drivers that can improve the value of your business, improve your lifestyle, and increase your ability to have a cash rich exit. There’s much more learn on the podcast, so I hope you’ll have a listen .

 

Are you an entrepreneur looking to exit, or at the helm of a thriving business or startup? I would love to talk with you about your stories! You can drop me a line here.

 

And watch this space for more details about future Elevated Conversations.

 

Ta Ta For Now.