Over the next Several Weeks we will be posting a new and different one-minute video providing business tips and instructional commentary for small business owners. These tips will range from key metrics to consider to the importance of Business and Cash Flow Forecasting.
In addition to selling more goods and services and in addition to creating a bottom line, we business owners need to create more value in our businesses. We need to be able to increase the multiple of earnings that our businesses are worth. My name is Michael Barbarita from Next Step CFO providing outsourced CFO Services with your know your numbers minute. There is no question that value is created through more earnings, but in order to increase the number of times earnings that your business is worth, you need to focus on three things. Number one: create and document a uniqueness and protect it through trademark or patent. Number 2: build and document operational systems that are repeatable, and 3: make ourselves replaceable. And remember, the most successful business owners know their numbers!