Why You Want Systems In Your Business
It’s a sad situation when a business owner goes to sell their business and finds out after putting in many years of hard work, that their business is worthless.
It’s not so much that the business itself is worthless, it’s that they ARE the business and without them there is no real business to sell.
In cases like this, they can’t sell it for any kind of reasonable sum beyond the value of their stock and maybe a small, nominal amount for “goodwill”.
There are numerous benefits to implementing systems in your business. Here are some of the most important.
It builds a valuable asset.
It’s nice if your business gives you a great cash flow to fund your lifestyle. But wouldn’t it be fabulous if one day when you decided it was time, you could sell your business and have the biggest payday of your life?
You can only do this if you build the value of the business and that can only happen if it is a system that can continue running without you.
Leverage and scalability.
Systems give your business the ability to expand. You can replicate your business in other geographic areas yourself or by franchising or licensing the rights to your business system. Many fortunes have been made this way.
Consistency is one of the keys to delivering an excellent customer experience. You may not like the food at McDonald’s but one thing you can say about them is that wherever you go they deliver a very consistent experience.
Lower labour costs.
When you and your staff don’t have to waste time and effort re-inventing the wheel each time, this improves your efficiency and reduces your labour costs.
If you need to speak to someone about building a system for your business, schedule an appointment for a free 15 minute, no obligation chat. Just go to www.businessexit.co.nz and book a time that suits you.
Hear from you soon.
Original article by Allan Dibbs. Successwise.