Value Building may be the Most Important Initiative you will ever take
You know what your business is worth. Unfortunately, the value of your business is not where you want it to be. You are looking for ways to significantly enhance the value of your business and take it to a level that is more to your liking. This value can be driven by your personal wealth plan, your exit plan or may be a personal target you set yourself.
Yet, like most owners of privately held businesses, you face a lot of challenges. The demands on your time often see you immersed in day-to-day problems, putting out business fires instead of working on the business to improve its strategic and economic value.
To help you overcome this challenge we have developed a Value Building System that can make a difference in the profitability and thus the value of your business. We can assist you in jumpstarting your business growth and focus on bringing its value to the required level.
If you are like most business owners when you went into business, you had a vision of what you wanted to achieve – what you wanted out of your business.
Have you realized that vision? Is your personal income meeting your needs? Has your business reached a value level you are comfortable with? How effectively can your employees run the business in your absence? Are you confident that you have everything in place for when you are ready to transition out of the business?
You don’t need us to figure out where you want to be. That’s easy. The hard part is getting there. Your investment in the business might add up to 10, 15 or even 20 years of personal sacrifice and commitment. Using the Henberger Value Building System we can help you ensure your investment pays off.
How we can assist you
The Henberger Value Building System is a turnkey process that starts with personal goal setting and moves through developing the business strategy, monitoring and reporting, performance improvement and team building.
Our approach combines strong financial management with soft human elements, taking into account your individual needs as the business owner and the development of your team.
Getting your priorities in order
Our starting point is about aligning your business objectives with your personal objectives. In a private consultation, we measure the relative importance of the business to your longer-term financial prosperity and determine the tasks needed to get your personal affairs in order.
This discovery process covers three important areas:
- Your personal finances – a review of your income tax, risk management and retirement planning. Here we may involve your other trusted advisors such as your CPA, attorney and financial planner.
- You and your business – a review of your role in the business, the supporting team, the readiness for a transfer and level of management information.
- Your quality of life – a review of your health, appetite to continue to drive the business, enjoyment you derive from the business, work-life balance, outside interests and “life plan”
Providing the roadmap to your destination
Having a solid strategy for your business is a key success factor. Having a focus that is too narrow can restrict the growth of your business. If you are unable to see the broader external environment, threats can arise for which you are unprepared. You can miss out on valuable opportunities that could have taken you closer to achieving your goals.
To lessen external threats and capitalize on those opportunities requires the business to follow a Strategic Plan – a roadmap to success that embodies an action plan with step-by-step details of what to do and a project plan that defines timelines for each milestone along the way. We help you develop this plan.
Keeping everything on track
The value of any business strategy depends on its level of implementation. Monitoring & Reporting is at the heart of the Henberger Value Building System. It offers a combination of financial and non-financial information that we provide to help you keep your business on strategy and, if an issue does arise, take corrective action to get the business back on track.
You can elect to simply use the reporting tools we provide and monitor the progress yourself, engage an outside coach to closely work with you or solicit our help in keeping you on track in managing the actions, responsibilities and timelines for any initiatives identified during the strategy phase of the process.
Driving up business efficiency
One of the outcomes of the Monitoring & Reporting process is identifying where the business is not performing to plan. We combine our experience as professional advisors with our best-of-breed software to deal with underperformance by identifying the problem and solving it.
Building an elite team
Many small businesses are too dependent on the owner, which often limits the value of the business, creates stress for the owner and acts as a handbrake on the business growth.
One of the most powerful elements of the Henberger Value Building System is the emphasis on team development. To build a successful business that is easily transferable you need develop an elite team. Your team is a fundamental of your business. It is the single most valuable asset of your business, though it does not figure on your balance sheet. A strong team is essential, if you want to fully realize your investment particularly, if you decide to transition out of the business and want to ensure its ongoing success.
How to get started
If you are looking to build the value of your business, we can provide you with business solutions that are grounded in business reality. To find out how we can help you jumpstart your business growth, contact us. It may be the most important initiave you will ever take.