Creating value is taking what you have today and making it better.
Creating value is a challenge. You’ve started your business and run it for years. Sometimes it treats you well, and sometimes you wish it belonged to someone else. You’re not especially happy with your results all of the time. Some years they’re great, and some not so good. You would love to see more predictability in your business. Frankly, you’re tired of working really hard and not always seeing positive results.
You need systems in your business.
Great businesses all have one thing in common. There is a system that allows them to predictably create great things. You're not going to create value in your business unless you can repeat what works. At the same time you want to have a system for experimenting that will allow you to try new things. If these new things work, you’ll want to
institutionalize them. If they don’t, it’s just time to move on.
Here are some things you will want to examine that can help you figure out whether your business is predictable:
- Do you have a strategic sales system?
- Do you have a budgeting system that’s simple and easy for everyone to understand?
- Do you have a well-defined niche that you operate your business in?
- Do you have a weekly and monthly dashboard that provides you with meaningful information?
- Do you have a method for improving your business in a systematic way?
- Do you understand that most of your employees want a system and will thank you when you provide them with one?
Creating value is about what makes you and your business unique
Your business is you, and you are your business. We’ve yet to see a business owner who has been able to separate themselves from their business. Have you felt guilty that you haven’t been able to do so? We believe that you’ll be much happier if you integrate the two, allowing yourself to enjoy your business and life at the same time.
Creating value is doing things that fit in with your belief system. Creating value starts with answering the question why. You need to know why something is important before you’re likely to make the sacrifice to create real value.
Learning to ask the right question
Creating value is learning to ask great questions. You need to be able to know what it is you want to do, who is going to help and how you’re going to get there. We’ve put together some special reports that might help you answer some of these questions:
You might be interested in checking out some of our mind maps on creating value:
- 4 Roles of a business owner mind map
- The road to passive ownership mind map
- How to develop a dashboard mind map