Increase the value of your business

In my last blog post I mentioned what makes a business valuable and certainly those comments are relevant here as well. But let's drill down into your buisness and identify operational elements that are critical to increasing the value of your business. Remember, your  business value increases because your bottom line is growing. So what operational actions improve your bottomline? Start with a stable employment and management base. If you read "The Loyalty Effect" or Service Profit Chain", these books are right on the money here. Trained loyal employees  are more capable, more productive, improve quality and drive stronger relationships with customers who in turn become emotionally attached to your business. Of course this model relies on you having the right competitive strategies - Is your product competitively priced and matching market demand. Sounds straight forward - but takes alot of work to achieve.