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What are your key challenges for 2010?

The Christmas / New Year period is a time for holidays, relaxation and rejuvenation.   But many small business owners find themselves reflecting on the successes of the last year and what is in store for them over the next 12 months.   New Year resolutions have a habit of becoming your goals and objectives for the next year.

But often these resolutions are an “urgent” response to the problems and pains the business experienced prior or during Christmas.   And whilst it is important to resolve these issues, a much more important goal is whether the business is creating sufficient value for you as the owner of the business.

We have found that when our clients seriously examine the current value of their business they find it challenges their current business strategy in ways that make them realise they are losing money if they don’t make a change.   Often these businesses are profitable, but not enough to be creating the value that justifies the investment in time, stress and money.

The Key Value Challenges that you should ask of your business for 2010 are:
  1. What is the value of your business right now?
  2. How much extra value can you create over the next 12 months?
  3. Is that enough for your needs?
  4. If someone made an offer for your business, how would you know it was a fair and reasonable offer?
I encourage our clients to write down the answers to these challenges – or at least attempt to estimate the answers.   Then we help them work on the strategies to generate the value they want.

So before you start rethinking your strategy or resetting your goals and objectives for 2010, see if you can answer the Key Value Challenges for your business.

 
If you want to learn more about these challenges or understand the value of your business then contact Maxell Consulting now.  We will sit and carefully listen to your issues and situation and give you an honest assessment of your options to act.

You may also want to get an idea of what your business is worth so that you are prepared when someone makes you an offer - our Your Value Now service can give you answers with only a 1 hour phone call.  Click here to learn more