This is one of the most important buckets because people who buy businesses do not want to buy jobs. A business with strong systems can keep on running without much attention from a new owner. This is what investors want. In fact, a lack of systems and processes can actually decrease valuation.
“If you don't have systems, you'll only be able to do an asset sale. If you own a coffee shop but you're actually in there making the coffee, getting the cups, ordering the inventory, and cleaning up the tables, you could sell your building. You could even sell your inventory, but you can't sell your business because it's you,” Wick says.
Most investors are looking for a business that will keep on functioning well without the business owner. SYE systems implementation focuses on the two key areas of (1) marketing and (2) management.
Without marketing, there are no customers. Without great management, customer service suffers and profitability is perpetually unpredictable. SYE works with business owners to document every process within the business.
This documentation often starts with things as simple as how to answer the company phone. SYE provides checklists and templates to make the process smoother.
Systems Implementation is right for you if…
--You feel your business isn’t organized
--Your business positions don’t have clear responsibilities and objectives
--Your business productivity suffers when key employees are not at work
--You don’t have standard operating procedures (SOP’s)
--You don’t have a marketing plan
--You don’t measure the results from your marketing
--You don’t know your marketing numbers (cost of acquisition, conversion rate, lifetime value of a customer)