284 – Value Building

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Are you making your business valuable and saleable enough? Buyers look into the value of your business before they even consider buying it. And if you want a successful exit from your business, it’s time to put in the work needed to build value. Aim to understand the factors involved in creating a more valuable business that buyers will want to buy.

In today’s podcast episode, I talk once again with my guest Danielle Putnam. This episode is the second of a three-part series called Exit Strategy vs. Wishful Hoping. Danielle discusses the things buyers look into during the acquisition of your business. She also shares the areas that a business owner should look in to create more business value. She encourages business owners to make constant room for improvements in their business today.

Tune in to this episode!

What’s Discussed in This Episode:

0:00 Elevation Program
1:09 Episode overview
4:04 Making your company as valuable as it can be today
4:47 Monthly recurring revenue
5:35 Service agreements
7:07 Profit margin
8:53 The importance of tracking
10:05 What buyers look into during acquisition
12:11 Being honest and realistic about what your profit is
14:18 Increase the value of your business numerically
17:30 What value building should be like daily
19:01 There is room for improvement
19:45 Adding value to your existing customers
22:29 Make a distinction between what’s valuable or not
23:18 Danielle shares important takeaways

About the Guest:

Danielle Putnam is the president of The New Flat Rate, a company that she and her father founded in 2011. She is also the immediate past President of Women in HVACR, an organisation that encourages more women to enter the trades.

Resources:

Tradie Web Guys ‘automation’ – (https://www.tradiewebguys.com.au/automation/)
Tradie Web Guys Elevation Program – (https://www.tradiewebguys.com.au/elevation/)
Tradie Web Guys’ Apply (qualification) page (https://www.tradiewebguys.com.au/apply/)
Visit The New Flat Rate’s website (https://thenewflatrate.com/)
Contact Danielle through email ([email protected])
Dominic Rubino’s Podcast – Cabinet Maker Profit System Podcast (https://cabinetmakerprofitsystem.com/podcast/)

Connect with me on LinkedIn. For more podcast episodes, you may also visit my website. Tune in and subscribe to The Site Shed: You can also listen to The Site Shed on Apple Podcasts, Spotify, and Stitcher.

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