A few weeks back, an excited former client called, having just returned from a month-long family vacation in Hawaii. “Your market focus should be, ‘systematize your business to sell it,” Bob blurted out.
“What do you mean, Bob?” I asked.
“Philip,” he said, “I was sitting on the beach in Hawaii watching my kids play, and thinking about the systematized business I just sold. I thought how extremely rewarding it would be to help other small business owners, like you do, who are ready to get out. You know, get systematized, so they can sell it!”
Bob was excited, saying, “I personally know many small business owners who are burned-out, and at the age where they’re ready to exit!” He said, he’d like to play a part in what we are doing with these struggling small business owners. “They really need help—and it would be a ministry of sorts,” he added.
A Great Endorsement for Systematization
“Philip, I remember the day you and your team came in and worked diligently to help implement systems for our business. As you know, at that time our company was struggling with chaos. It was depressing! But, due to what your team accomplished, we were able to sell our business for TOP dollar. More importantly, our family’s life has change dramatically for the better. Our trip to Hawaii was incredible, as we spent much needed, uninterrupted time together.”
Now that’s a great endorsement; and much encouragement to me personally!
“Thanks so much, Bob,” I said, sincerely. “You’re one of those “rare birds”—a small business owner who really GETS IT! Looking back, you were like a dog-on-a-bone, with these systems; not letting go until your company achieved its goal. It’s great, to see you are now reaping the rewards. We just helped by giving you tools and training. But again, you—the owner—had to make it happen.”
Systematize Your Business to Sell It Takes Commitment
Within a few years of systematizing, I saw Bob’s business grow to a level where he could sell it, and not only for top dollar. Equally important, he was able to hand the keys to the new owner who was able to take immediate control and run the business without Bob.
That’s TURNKEY! Moreover, that’s the difference between a “Mom & Pop” business, and a systematized business.
When a small business owner is bogged down in daily operations, they have little time to grow their business.
Bob’s commitment, even in the face of opposition, was the KEY—the difference between success and failure.
How Do You Systematize a Business to Sell It?
- Make the decision and commitment to do it. Never turn back!
- Identify the top three frustrations in your business that cause errors, sleepless nights and chaos. A business frustration is usually a process NOT performed correctly, much less consistently.
- Build a step-by-step procedure, map or Quality Assurance Checklist, and how to perform each step in those processes, error-free. Keep refining the process until you have it where you want it.
- Build an Operations Manual to keep all procedures, policies and QA checklists, etc. Ensure the Operations Manual is easily accessible to all employees.
- Continue identifying frustrations up- and down-stream in your workflow. Again, build a procedure, map or QA checklist for each task. Leave nothing to chance. And, NEVER stop improving these systems.
Folks, don’t be surprised if you hear from Bob at some point in the future, as he loves sharing with others how to systematize a business for selling. In fact, he says, if anyone wants to talk with him, he would be glad to share his story. It’s one of success!
Did I mention? Great system work!