Do you need to improve your curb appeal? Here’s a three-step plan:
1. Fix Your Leaky Faucets
Perhaps, like many other business owners, you started your business from scratch with one or two employees and now you have 20 people working for you. But do you have the appropriate HR infrastructure in place for that size of a company? Perhaps you even take pride in your informal management style, but it can prove to be a liability when it comes time to sell.
- A written policy making it clear you forbid any form of harassment or discrimination;
- A written letter of employment for each staff member;
- A written description of your bonus system;
- Written policies for employee expenses, travel and benefits.
2. Assemble Your Binder
- Opening up in the morning and closing down at night;
- Forms and step-by-step instructions for routine tasks;
- Templates for key documents;
- Emergency numbers for service providers;
- Billing procedures for customers.
- How your company is positioned in the market and your marketing tools.
3. Document Your Intangibles
Intangibles for house buying might include: Is the house near a good school or daycare? What kind of neighbourhood is it? What kind of commute are you looking at to get to work?
- Proprietary research you’ve conducted;
- A formula for acquiring new customers;
- Criteria you use to evaluate a potential new location;
- Your unique approach to satisfying a customer.
Wondering if you have a sellable business? Contact the MAXIMA Group for a consultation. We focus on privately held companies with annual revenues of $3 million to $60 million. We also advise larger public and private companies on buy-side engagements.