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Overlooked Value: The Path of Least Resistance and the Most Profit
Written by Marissa B. on March 29th, 2022

Overlooked Value: The Path of Least Resistance and the Most Profit

There’s an African proverb about a farmer. He learned of miners who became rich by finding diamonds. This prospect was so attractive that he sold his farm to become a miner himself. To his chagrin, he later learned that the new owner discovered the farm was full of diamonds.

The original owner of the farm sold a valuable asset because he did not see the value in it. To him, the allure of finding something better elsewhere was more compelling. The new owner of the farm did reap the benefits of owning acres of diamonds, but even he was unaware of what he had for some time. Both farmers in this proverb overlooked value, and that is a flaw that impacts business owners at all stages of entrepreneurship.

Every decision comes with an opportunity cost. The farmer made a leap, hoping to gain riches, but his choice cost him the value of owning acres of diamonds. How can you avoid overlooking value in your business?

You Are Your Biggest Asset

In any business, you as the business owner are the acres of diamonds. You have valuable resources and expertise. When you learn the best way to leverage your own assets, you can be the fulcrum for exponential growth in your business.

What is the true reason you want to sell your business? Are you just bored? Is this part of your long-term investment plan? Are you selling because of a problem? 

All of these are valid reasons. The purpose of this information is not to discourage motivated entrepreneurs from selling a business. Rather, this cautionary proverb helps business owners avoid selling a business because they do not see the value in it. Often, business owners forgo value because they do not take the time to polish their inner diamond. 

Say Yes! Enterprises founder Christopher Wick once sold a business because it was time-consuming. Within months, the new owner found a way to get the same tasks accomplished in half the time. 

The business did not change, but the approach that the new business owner took made it far more valuable. A business that can generate 100% of the profits in 50% of the time is lucrative. 

The new business owner is more efficient and gets more value from the same business. It’s not because of the latest-greatest system or because of landing some unbelievable dream client. The efficiency is the result of the business owner learning the invaluable skills of efficiency and time management. 

The best investment you can make in any business is to invest in yourself. Invest in learning more. Develop greater expertise in both the hard and soft skills that it takes to run a business. Go to school, get a mentor, or read a book. The investment does not have to be monetary. You can invest your time in surrounding yourself with professional peers who lead by example.

The Cost of Overlooked Value

The Acres of Diamonds proverb is not a cautionary tale about selling your business. Rather, it highlights the need to get the most value from your business. If the farmer turned miner knew how valuable his land was, he could have sold it for a much higher price. He sold his business for far less than it was worth because he did not recognize the value.

In your business, you have the challenge of both recognizing and highlighting your assets. Think about every aspect of your business that can add value to an investor. There is nothing too small. 

Say Yes! Enterprises assigns value to intangible assets, such as a large social media following or a list of email subscribers. Say Yes! Enterprises has a proven process to turn subscribers into customers. When a list is already developed, the process for making more profits is even easier. 

Do not underestimate the power of know-how. For an investor, information, processes, and step-by-step guides are the difference between owning an asset and buying a new job. 

Established relationships are also valuable. While it may not be proper to advertise private agreements in a business listing, there is a point in the process where it is quite reasonable to tell a serious buyer about relationships that make your business more valuable. Has a key vendor grandfathered your business into old pricing? That’s a diamond!

How to Find Diamonds In Your Business

You may need guidance to see the diamonds in your own businesses. That’s what Say Yes! Enterprises offers in the Growth Acquisition Partnership G.A.P. Partner Program. 

Many business owners are not quite ready to sell, but they recognize their business could be doing more. The goal of G.A.P is to help business owners unleash the hidden potential in their own businesses. G.A.P makes your business more valuable, for an investor or for yourself. 

Here are some diamonds that could be lurking underneath the surface of your business: 

Survey your existing customers. Get a better understanding of what they need right now, and align your offerings with those needs. This is a free and easy way to increase profits and create loyal customers. 

Increase your prices today. Inflation increases expenses for you. Instead of cutting corners to handle this cost, pass some of it along to your customer. Your profits will increase immediately. All Say Yes! Enterprises G.A.P. Partner Program increase prices in the first month of the partnership, and it has not crippled a business yet.

SMS marketing. Advertising to subscribed customers through text message is a high converting, cost-efficient method of digital marketing. If you are not texting your customers, start today. 

Say Yes! Enterprises has templates and processes to help a business utilize this tool. This is unlocking a hidden gold mine without changing your products or processes. This is a way to earn more (and make your business more valuable) by using the resources you already have.

The Path

When you’re ready to sell your business, you’ll need to interact with potential buyers. Seasoned business investors understand that the acquisition of a business is more of a partnership than a transaction. There will be months of mutual cooperation. 

Investors assess their compatibility with you as much as they assess the value of your business. It is quite possible to look out for your best interests while still displaying a cooperative, unaggressive spirit. See the investor as a collaborator working with you to reach a mutual goal. The person trying to buy your business is neither your enemy nor your opposition. 

Some people believe in taking an adversarial approach towards the other party in the sale of large assets, but this attitude can hinder a business acquisition. Say Yes! Enterprises regularly declines lucrative deals when business owners prove to be combative or otherwise difficult to work with. 

An investor may be trying to acquire several businesses at once. Many cannot afford to spend time on arguments and insincerity. Negotiation is a part of the process, but keep courtesy and professionalism at the forefront. 

Building rapport with investors can also go to the other extreme. Investors want to work with level-headed, honest people who can supply accurate information. If you are overly accommodating or too complimentary, you could raise suspicions. Why are you so eager to sell? Is there something wrong with the business? Is there a long line of investors who declined to acquire your business? 

You can expect an investor to ask why you’re selling your business. Think about your answer. By the time you’re ready to sell, you may view your business as a burden. You may have bigger and better aspirations, and selling the business may be the last thing you need to do before entering your next big chapter in life. 

If you frame your business as being too difficult to run, taking too much time, taking too much money, or requiring too much work, investors will likely not want to give your business a second thought. If you frame your business as a problem, no one else will want to buy your problems. 

Are you aware of the acres of diamonds in your business? Are you regularly surveying “the land” to find value that your business already has?
A Final Thought on Overlooked Value
“Overlooked value is a huge expense. Many business owners make impulsive decisions because of the fear of missing out on the big opportunity that everyone else is taking. However, it is far wiser to have a healthy fear of overlooking the value in the resources you already have, whether that be yourself or your business. Improving the asset you already have is often the path of least resistance and most profit.” - Christopher Wick

About Say Yes! Enterprises

Say Yes! Enterprises is an investment management company that acquires, builds, and sells companies that benefit shareholders, customers, team members and communities at large.
About Christopher Wick
Investor, 9X Award-Winning Entrepreneur, and 5X Best-Selling Author & Speaker

*Founder/Principal of businesses that have been featured by Huffington Post, ABC, NBC and Wall Street Select*

Christopher Wick is an award-winning entrepreneur who has built, bought and sold various companies relating to social media marketing, e-commerce, real estate, retail and investing.

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Say Yes! Enterprises is an investment management company that acquires, builds, and sells companies that benefit shareholders, customers, team members and communities at large.
Say Yes! Enterprises is an investment management company that acquires, builds, and sells companies that benefit shareholders, customers, team members and communities at large.
CONTACT 
Say Yes! Enterprises
5900 Balcones Drive
STE 100 
Austin, TX 78731
Copyright © 2020 Say Yes! Enterprises | All Rights Reserved. 
Copyright © 2020 Say Yes! Enterprises | All Rights Reserved. 
ABOUT 
ABOUT 
Say Yes! Enterprises is an investment management company that acquires, builds, and sells companies that benefit shareholders, customers, team members and communities at large.
Say Yes! Enterprises is an investment management company that acquires, builds, and sells companies that benefit shareholders, customers, team members and communities at large.
CONTACT 
CONTACT 
Say Yes! Enterprises
5900 Balcones Drive, STE 100, Austin, TX 78731
Say Yes! Enterprises
5900 Balcones Drive, STE 100, Austin, TX 78731
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