For years I’ve waved the banner of business self-sustainability. The reason is because business self-sustainability helps you achieve the primary goals you had when you decided to start your business – total independence in your life and financial freedom.
Additionally, business self-sustainability solves many of the challenges that you face as a business owner every day. Many of these challenges are solved just by making business self-sustainability the focus of your business planning and day-to-day management of your business.
As a result you can experience the many benefits that come with business self-sustainability including:
- Decreases risk to your family and families of your employees.
- Delivers the life independence you wanted when you started your business.
- Creates the financial freedom which you’ve always dreamed.
- Increases value of business so you can get more if and when you sell it.
- Improves both your personal and business cash flow.
- Provides more options for exiting your business, now or in the future.
- Helps you catch the attention of investors and corporate buyers.
If you’re not already experiencing these benefits of business self-sustainability something may be off track. Watch the following video to understand what can put you on the track toward business self-sustainability with your company!
If this is what you want for you and your business get a copy of our book Business Growth Simplified: How to Rapidly Create a Self-Sustaining business. This book was written to help small business owner achieve the independence and financial freedom you dreamed of when you began your business. You will learn the things you need to set yourself free from your business in 3 – 5 year or less while gaining all the benefits that are the result of a self-sustaining business!
The Benefits of Business Self-Sustainability
Decreases risk to you family and families of your employees
For companies without business self-sustainability the “hit by a bus scenario” is a nightmarish thought. Think about what would happen to your family if they were left to tend to your business in its current state of operation. Ask yourself, “would their life-style be impacted?”
Many will say, that’s why I have life insurance. But, life insurance won’t run your business when your gone!
What will happen to your customers and employees if you weren’t there to run the business? Ultimately your family will be left to clean up the mess if it’s even possible. How will that leave them in your absence? Is this really the legacy you want to leave your family?
Delivers the life independence you wanted when you started your business
If you just focus on building a self-sustaining business for a short time (usually 3 -5 years), your business can run without you being there. As a result, you can take that vacation you wish you could take today. You can work on that new business idea that you have, but can never seem to find the time to research. At this point you can have the time to take vacation whenever you want or work on a new business idea you have and keep your currently life-style or better. It can all be yours in just a few short years!
Creates financial freedom which you’ve always dreamed
What if you set your revenue based on the net profit percentage you wanted from your business. You’d know exactly how big you needed to grow your business in order to become financially free and could use your business to do it!
Do you know what the size of your business needs to be and what key factors need to be accomplished to get there? It isn’t as big a number as you might think. You can see what we mean by reading the blog post titled, “How Big Do You Need to Grow Your Business for Self-Sustainability?”
Increases value of business
Most business owners have an inflated idea of the actual value of their business. The business could be worth that and probably even more if it wasn’t dependent on them.
By making business self-sustainability a priority, you remove your business’ dependence on you. Any business broker will tell you by removing your business’ dependence on you increases the value of the business. Business self-sustainability in the way to get there!
Improves both your personal and business cash flow
What would it be like if your business hit breakeven every month with the profit margin you want on top of that without you even thinking about it? How much would that be worth to you?
That’s the financial benefit of a self-sustaining business. With the right systems and key metrics to monitor your revenue engine your business will just create cash flow without you even thinking about it. How much stress would that take off of your back?
That means you get paid without even thinking about it. Wouldn’t that be a great feeling?
Provides more options for exiting your business
If your business is self-sustaining do you really need to sell it? Heck, it’s probably the best investment that you have in your portfolio!!!
This isn’t the way most small business owners think about their business. But, they it should be!
If you build a self-sustaining business you don’t have to sell it to retire. In most cases, you could retire in 3 – 5 years. You don’t have to, but you could. The big benefit is YOU DON’T HAVE TO SELL IT TO RETIRE. But, you can if you want to and it will be much easier to sell if it’s self-sustaining. WHY?
Catches the attention of investors and corporate buyers
Investors look at businesses differently than most people. Many don’t care what the business is, they just want to know that they have a reliable cash flow stream for their investment.
That’s right, they don’t care what the product or services is. If it gives them the return on investment (ROI) they are looking for they’re interested.
So, if you want to sell your business to an investor, they want a “turnkey” cash flow stream. Build your business for self-sustainability and you’ll get investors’ attention.
BUT….I’ll bring it up again, if you have that good a ROI from your business why would you sell it? It’s the best annuity that you could leave your family!
Making Business Self-Sustainability Happen
So, there you have it, the benefits of growing a self-sustaining business. You can see the benefits are many, and many of the problems that you face on a daily and monthly basis are corrected if you just make business self-sustainability a priority.
So, how do you get started? You begin by moving your business up the business growth cycle. DE, Inc. has provided a business growth framework by which to grow a business in our SPARC (Strategic Planning and Recovery Cycle) and an arsenal of tools, resources, and business training to help you.
Use the Business Accelerator Assessment to get started right away on your journey toward business self-sustainability. It will help you get through the first 3 steps of the SPARC growth framework and be on your way in less than 7 days!
Learn More About Creating Business Self-Sustainability!
Find out more about what’s necessary to create business self-sustainability by downloading our FREE ebook How to Get Out From Under Your Business. Just complete the form below: