How do you know if your business has any real value?

Person examines value
I’d like to tell you about Ben.

However, before that, I’d like to ask you a question.
If you were to take the Managing Director/CEO out of your business, what would be left?
Would the company be able to carry on without you/him/her, or would things eventually fall apart?

Ben used to be the dictionary definition of fit and healthy. He was an avid jogger and had run marathons. One summer after a number of years of working hard building his business, friends of Ben’s had offered him the use of their holiday villa in Bali for a holiday.
Ben was excited – he hadn’t had a holiday in years and his 6 year old daughter Amber had never been outside the country. He thought it would be a great chance for them to get away and spend some quality time together given how much time he had been spending in the office lately.
They had a wonderful break together, enjoying the beach, sea and sun. On the morning they were due to leave Amber begged Ben for one last swim in the shared pool. They had time so Ben smiled and agreed.
That night when they landed at home Ben’s sister picked them up from the airport. She remarked that Ben didn’t look great. He said he didn’t feel great but probably nothing a good sleep wouldn’t fix.
When Ben came to breakfast the next morning, his sister immediately called an ambulance to take him straight to the hospital. He had arrived with weird clothes, different socks and shoes on each foot. He was mumbling about a business meeting he had attended that morning, despite not being due back to work the following day.
Less than 3 hours later, Ben was unconscious and on an operating table having major brain surgery.
Some bacteria in the swimming pool had gotten into his ear canal, traversed the blood/brain barrier and had created a really dangerous situation for him. He could have been a vegetable for the rest of his life and in fact the doctors told him had he not arrived when he did, he most likely would have been.
Today Ben is mostly back to health. He’s not running marathons anymore but he is able to once again work in his business. It’s been a long road for Ben, he was recovering from surgery for months.
Ben’s business’ health was not as lucky as Ben was unfortunately. Ben liked to be really hands on and unfortunately never took the time to build out systems for everything in his business.
When he disappeared for 4 months, his staff weren’t equipped to continue on without his instruction. No new sales were made because he was the only sales asset in the company. His small team did great work on finishing off their existing client work and getting that invoiced, and until the company’s working capital dried up all of their bills were paid.
Unfortunately Ben had to learn the lesson of how important systems are the hard way. When he was finally able to return to work there was really only a metaphorical wasteland where his business had once stood.
Ben resolved himself to start from scratch but vowed this time he’d spend the extra time putting systems in place from day 1.

Don’t be like Ben, get your systems in place now before it’s too late.  Register for our Systems Training Day with expert Business Coach Trent Taylor. Visit http://www.mcmahonosborne.com.au/events-seminars/upcoming-events-seminars to find out more.

 

 

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