I’ve experienced firsthand the exciting (and lucrative) transformation that happens when everything is in alignment with your business and life. Although I’ve always had a competitive spirit and been highly disciplined, the entrepreneurial journey was still incredibly challenging. However, a shift in my approach and the adoption of a new business operating system, the Entrepreneurial Operating System (EOS), brought about a significant change. This system, along with the right people and processes, propelled my business into multiple locations, leading to consistent growth in both the top and bottom lines. Through this experience and my upskilling in other complementary disciplines and methodologies, I have developed a list of five hidden gems that can help you unlock your highest business value. Keep reading to see which of these tips (or all) can help you propel your business growth forward.
Gem #1: Implement a solid business operating system
All businesses have an operating system, but it’s not always designed for their needs and goals. Your operating system is a collection of processes and who is responsible for each part.
The more formalized your business operating system, the more effectively you can drive your business forward, with everyone knowing the role they play. However, if your operating system is too detailed and rigid, you get stuck behind “red tape,” and success is harder to achieve.
Implementing a simplified operating system based on your needs can help you gain control and elevate to a new level of performance. As an expert EOS Implementer, I help you implement proven, simple, and practical tools to strengthen Six Key Components of your business (vision, data, process, traction, issues, and people).
Contact me to learn how.
Gem #2: Engage a qualified Integrator
An Integrator helps you bridge the gap between vision and reality in your business. This role is skilled and equipped to run the day-to-day operations of your business, so the company visionary (you) can focus on creating the future of the business (and their eventual transition out of the company).
Integrators become an active part of your senior leadership team, providing discipline and accountability. They can be a full-time employee or contracted full- or part-time where your business needs extra support. They may assist with running and supporting your L10s and your quarterly and annual planning.
Did you know that I’m a Canadian Master Licensee as an Integrator with Independent Executives? I’ve completed over 500 EOS sessions and uphold the highest standards in the EOS implementation program. My professional Integrator services are available as your primary Integrator, as additional hands-on support for your current Integrator, or as Integrator mentorship.
Let’s discuss how an Integrator can support your business operations and growth.
Gem #3: Empower your leadership team
An effective senior leadership team will have ripple effects across your entire organization. Ensure your leadership team has what they need to lead the key functions of your business, including sales, marketing, operations, and finance. When optimized with the right systems and people, these essential business functions can drive results and growth for the company.
Build competency in your teams so they can manage themselves. This creates more space for you, the founder and visionary, to step out of operations while maximizing the company’s human capital and intellectual capital value potential. This is a key driver of business valuation and will help you eventually sell it for a higher value.
Gem #4: Formalize your Intellectual property (IP)
A key difference between struggling and scalable businesses is how they capture their IP. Scalable businesses formalize their IP in processes, systems and other structured forms to make them repeatable and learn how to improve them over time. When it’s formalized and tracked, you can access analytics and results to see which processes and systems produce the desired results.
Formalized processes become a core asset to you. They can improve its valuation, making it more attractive to potential buyers willing to pay top dollar.
Gem #5: Seek support from advisors
No one expects you to play all the roles, especially when it comes to specialized knowledge and experience in some roles, such as legal or finance. This is why successful founders surround themselves with in-house staff with these specializations or hire third parties to provide this support.
This key advisor group can advise you in regards to future transition out of the business from personal, financial, and business perspectives. They can also help you structure the business now and its future sales to minimize tax implications, maximize financial gains, and ensure continuity. This will support the owner walking towards their destiny with confidence.
How to unlock your full business value
When you give each of these hidden gems the time and attention they need to shine and grow, you can unlock your business’s full potential and value. Every business owner has the power to gain control of their business and maximize its value while achieving their own life goals (which may include stepping away from the business).
While you can begin to see results when you implement one of the above tips, you maximize your success when you combine them as part of a longer-term growth and exit strategy. This is what Rise Up Business Coaching can do for their clients. For example, through our programs I helped one client develop a four-year plan, beginning with implementing an optimized business operating system and ending with exit planning.
If you need help creating the right systems and people to support your personal and professional goals and life plan, I can help. I have several complementary coaching and hands-on support services to help you prepare for this career and life transition with confidence and more money in your pocket.
In navigating my path to personal freedom, I discovered that you don’t have to sacrifice everything to get what you want in business and life. You can have it all when you unlock the five gems in this article. Live by your design and achieve the business and personal freedom you deserve.
Ask me about EOS business coaching, Integrator development, Exit Planning, or life coaching today.
