As we build our businesses, we get to practice and gain proficiency in the details of running of it.

Details like hiring: some of us may have hired a few employees over time and each time we do it, we will get a little bit better at it; finding what works and what doesn’t.

When it comes to managing your people: I suspect that you’ve made some mistakes (like we all have) and had some wins, and have attained a decent level of competency in managing your team through the years.

I also bet that how you serve your customers has improved in some way over time as you do this over and over again. There may be still room for improvement, but you practice this day-in and day-out and it’s my observation that your company is very good at serving it's customers.

So what don’t we get to practice?

There are 8 drivers of company value that contribute to the valuation of whether your company will be easy to pass on or to sell in the future. Through my work supporting business owners to grow their businesses in a way that maximizes their future exit options, I have found that these 8 drivers aren’t always obvious.

And, through focusing on these 8 drivers, this is the process to grow your company, so if you’re not looking to sell anytime soon, these drivers will offer you a roadmap to enjoy growth in the meantime.

The first driver I would love to talk about first is Hub and Spoke. I wanted to start here because typically, almost every owner I’ve worked with has an opportunity in this area…

Here is something to consider:

Does your business currently align with YOU and your goals? Does it provide you with what you need to live your life in the way you wish?

Here are two important considerations:

1. Does it align with your desired lifestyle while working?

2. Is it structured in a way to set you up for your lifestyle after you want to move on from your business? (whether that’s passing it down to children or management, selling it, or moving into an oversight position, etc.)

Do you think of your business in these ways?

If thinking of your business in these ways is new for you or you simply haven’t given it much thought then I invite you to spend a few minutes to entertain them.

“I’m too busy growing my business to think about processes”

“Process stifles creativity in our organization”

“Process is considered a dirty word in our company”

I’ve seen too many companies suffer from their belief that if they put structure and flow into their business, their people will feel ‘stifled’.

You know what lack of process, or infrastructure does? It inhibits communication, reduces role clarity, creates inconsistent performance, creates uncertainty when problems arise, and slows growth. Unfortunately, the list doesn’t end there.