This week’s topic is how the nature of delivering work has changed, its impact on valuation and what systems need to be in place for businesses to ensure a successful long-term exit. To discuss these issues, Nana is joined on Build Value By Choice by Darryl Bates-Brownsword, host of the Exit Insights podcast.
The nature of delivering work has changed over the last couple of years as people are seeking more balance when it comes to working from home and with modern systems like Teams and Zoom we can stay connected during the work day. This saves on things like travel time and can lead to employees using that saved time to be more productive.
If a business is systemized then you can demonstrate that work is being done when your team is working remotely. When we have areas of the business that aren’t systemized, then we cannot prove that the work is being done, which can affect value. If you can prove the systems work then it might actually increase the value of your business.
Businesses that are dependent on the owners daily involvement then it is considered a risk by potential buyers.
The systems you need in place are production, workflow, induction and onboarding, and finally financing and reporting.
‘It encourages people to get paid for the job they do, not just showing up’
‘People are looking to acquire your business because it’s an investment’
‘I can see some commercial areas being rezoned’
Darryl on LinkedIn
Exit Insights podcast
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ABOUT THE GUEST
Darryl Bates-Brownsword is the host of the Exit Insights podcast. He is based in Oxford in the UK, and he’s on a mission to help business owners to learn that if they want to get the most from their life’s work and exit on their own terms, then they need to prepare their business (and themselves) for exit.
Hosted by Nana Bonsu of Infinite Horizons, this show aims to serve small business owners who want to grow their businesses while reducing their own personal involvement. We do this through a combination of interviews with industry leaders, and host presentations. We are certified value builder advisors and leverage a statistically proven methodology to help clients such as you scale or transition their business to the next chapter.
We care for our listeners and see their dreams as our own. We aim to foster a community that embraces freedom, generosity, and integrity. This is a show by entrepreneurs and business owners for entrepreneurs and business owners.
ABOUT THE HOST
“I am an entrepreneur and ex-Corporate Executive who’s applying his experience and knowledge from working in various ways to pursue my passion of helping small business owners increase their choices in life by leveraging my knowledge and experience, their employees, systems and money. I help small business owners transform their business and increase value through action-oriented education and implementation of strategies and tactics to make their business sellable even if they are not planning on selling. Known for establishing an environment for personal growth and development. My multicultural background equips me with the intuitive understanding of different cultures and how they impact business owners.”
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