As 2022 starts, many of us are considering our goals for the new year. Here are 4 you should be adding to your business plan.
Plan With The End In Mind –
Many businesses don’t really know where they are going except for bigger, better, faster, & stronger.
Here’s another way for you to think about it. What are you doing all this hard work for? Just an income? Many of us have invested our blood, sweat, tears, nights, weekends, and savings into this business. Why not plan for its future sale? After all, you want a return on your investment, right? When you have an ending plan, you structure your business differently, run it differently, and it becomes an asset that is worth selling when the time comes. Make your 2022 goals with the end in mind and make your business sale-ready today and enjoy the profitable benefits of an attractive business
Spread The Word –
If the CEO is the mind, & the team is the heart of the business, then marketing is the bloodstream that keeps everything flowing.
Marketing is something that every business needs to master yet so many miss the point. Marketing is not to close the deal, that is for sales. Marketing is to let your ideal customer know who you are and why they should consider using you. Brand awareness is a huge part of having a successful and attractive business. Make your 2022 goal to spread the word about you, your business, & its the solution to your ideal customer. When you do that, the business will grow and your company recognition rating will add a lot of value to your future sales price.
Build-Out Your Team –
Whether you are a solo-preneur or a small office team, it’s the team is where the leverage comes in.
Since there are only 24 hours in a day and sleep is required, this is the easiest way to build additional revenue. Many small business owners fear hiring because they think they don’t have enough work or money to pay them. The best way to hire is to start at the bottom of your Org chart, not hiring a chief officer. Lower pay employees can do the processes that you shouldn’t be doing therefore freeing up your time to do the income-generating tasks. My rules are simple, the person you hire must pay for themselves in the additional income that can be generated. This can easily be done and should be strongly considered for your 2022 goals. Leverage is an amazing business tool!
Get Out Of The Way –
If you are the business, then your business may not be a saleable company. You really don’t have a business but just another J.O.B. trading time for money.
No one wants to buy your headache! When you have limited owner involvement, your company is super attractive to future buyers. It also shows that you have repeatable processes that are handled by others. Just like the team-building goal mentioned above. Giving you back your valuable time and no more working 16 hours a day, 6 days a week. Step away from the day-to-day activities and into the leadership role will allow the company to stand on its own. This is the best goal to strive for in 2022.
Marcia Riner is a business growth strategist and exit planner with Trajectory Consulting. She works with small business firms to help them Exit with a Plan™ by using her proven Attractive Business Formula™ you can create your own sale-ready plan today. This will help you optimize your revenue now and make sure that your business is ready to be sold when the time is right.