Ways to build VALUE in your business, part II

Many people think the value in their business is primarily tied to revenue only so they tend to undervalue their worth when it comes time to sell. I’ve spoken to many CEO’s (including yours truly) who felt they left “too much on the table” when it was time to sell their business or negotiate a deal because they didn’t take many other factors into consideration.

This is also an important issue when it’s time to attract investors or put together strategic alliances. The more you learn to value every aspect of your business, the more bargaining power you have when it come time to negotiate. There are literally dozens of ways to build value in your business---we discuss many of these in our Protégé Program. Here is part II of my list...

6. The people on your team

Relationships are important and can be used as a bargaining chip in many negotiations. Includes your advisors, producers, creatives, sales stars, as well as who’s in your “golden rolodex”.

7. Goodwill ~ “Blue Sky”

What is your name worth to you? Have you been involved in community outreach? Featured in the media? Your reputation, good name and the credibility of your business can increase your value.

8. Access to capital and other resources

Do you have access to resources you may not have fully utilized yet but could be considered a valuable asset to someone that wants to do business with you.

9. Aged corporation

Age before beauty applies here! The longer your company has been in existence, the easier it is to establish business lines of credit…and take advantage of other perks. Often times, a younger company may buy an existing shell of a company for this very reason.

10. Ability to create new Intellectual Property

If you have patents, trademarks or other intellectual property that hasn’t been fully expressed or developed, the potential of its development may be worth more than you know. Case in point if you own a PC, how many versions of Windows have you purchased since you’ve had your first computer?

Reserve a spot in Maria’s 16-week Business Building Protégé Program and walk step-by-step into creating your dream business http://passion2prosperity.com

Ways To Build Value In Your Business, part I

Many people think the majority of value in their business is tied to revenue only so they tend to undervalue their worth when it comes time to sell. Most of the valuation formulas deal strictly with revenue as well. However, I've spoken to many CEO's (including yours truly) who felt they left "too much on the table" when it was time to sell their business or negotiate a deal because they didn't take many other factors into consideration.
This is also an important issue when it's time to attract investors or put together strategic alliances. The more you learn to value every aspect of your business, the more bargaining power you have when it come time to negotiate. There are dozens of ways to build value in your business and we discuss many of these in our Protégé Program. Here are a few that will help you negotiate higher fees, attract investors, bigger deals, and ultimately sell for a premium price.

1. Intellectual property (IP)
Take inventory of not only your patents, trademarks, copyrights, and trade secrets but also brand identity, websites, domain names, blogs, and social network profiles. You can create as much IP as you want and the more you do with them, the more valuable it becomes.

2. Tangible assets
What else do you own that is attached to your business? Includes real estate, inventory, collectibles, and so forth. I remember years ago a friend sold his business including the building it came with. In the final purchase contract, his broker forgot to exclude the huge billboard that sat on top of the building and produced an extra $22,000 a month in revenue. Therefore it was automatically conveyed to the new owner and my friend literally gave up that revenue because of an oversight. Ouch!

3. Contracts and other agreements
You may have agreements that could be tied to current or future revenue, produce residual revenue or allow for something of value other then direct revenue. COuld be the use of an image, name, access to a resource, etc. During the time I sold my first business, we had an existing contract to provide services to a major hotel chain. The contract was new and we hadn't yet finished the rollout to all their locations but included the potential of it in the final purchase price. If you're doing business with people right now without a writen agreement, consider putting one in place ASAP. Go to http://manifestsuccessplanning.com and download Jian's Business Contracts (rigth side of page) for over a hundred templates.

4. Customer or Subscriber list
Your list is golden and would be coveted by many! It can be a tremendous bargaining chip in a sale or partnership negotiation. The people on your list may not all be customers but have the potential to be which translates into revenue. Go to http://intentionalincome.com and click on our ecommerce listbuilding tools.

5. Systems
You're adding value anytime you've created backend infrastructure in sales, marketing, operations or production. Same thing if you've systematized any process you do in your business or have brought offline services online. Creating automation and structure in business is a big aspect of the work I do with clients and is what paves the way for a multi-million dollar business. That's why I like to use Kickstart Cart (1ShoppingCart private label) as one of the automation solutions for my business.

Reserve a spot in Maria's 16-week Business Building Protégé Program and walk step-by-step into creating your dream business http://passion2prosperity.com/program

How To Stay ON The Road To Success!

We're so hard on ourselves! I've met so many entrepreneurs who regularly chastise themselves for "not knowing better" or taking longer to launch, or needing more money then originally thought. Pul-eeze! How are you supposed to know everything? The fact is, no one really taught us "success" in school and I don't know about you, but Business Ownership 101 was not offered as a class in grammar school or high school. In fact, it's only been in the past few years that they're actually offering more entrepreneurial classes in school. The road to success is not really a ROAD as far as I'm concerned. It's more like a LABYRINTH with lots of twisty turns---some seem to go nowhere and others take you one step closer to the prize. You can really learn to enjoy those twisty turns if you just start easing up on the self judgement, breath e, be more compassionate with yourself and know it's more about the journey. So while most entrepreneurs barely know what they're doing when they first start out in business (it's so true), here are things you can do to keep yourself moving forward successfully:

1. Don't wait until it's perfect
Don't hold back. Start bringing your dream to life by putting your product or service out there in one form or another and let it evolve from there. You may not have a product ready for instance, but you can easily start building your markets.

2. Surround yourself with people who model success in different areas
Don't operate in a void. Seek out those who really know their stuff and are willing to share their wisdom and open doors to new opportunities. Ask for help, ask lots of questions..always!

3. Focus on your passion, not the money
Let your desire to be part of something bigger than you be your driving force and you'll maintain the momentum you'll need to see it through. Money is not a long term motivator. Focusing on your PASSION will bring you more joy and inspiration.

4. It's none of your business what others think about you
Stay true to yourself, your passion, what you know is right, your plan, the desire to be a trailblazer who thinks outside the box---all of that---and don't let others bring you down or insist you can't do something. Always consider the source if you're ever going to react to what others may say about you.

5. Have a "no matter what" vision
You won't always know how to do something---you couldn't possibly know it all--- but you should have a clear image of what you really want. Stay focused and committed to THAT and you'll always be guided to the next step.

6. Every resource you need is within your grasp
If you really pay attention, you'll soon realize that every people or material resource you'll need to accomplish your goals, including money, is close by and well within your grasp. It's how God works with a great idea and a driven entrepreneur.

7. Keep immersing yourself in learning and growing as a human being
It's not just about doing your business--- you'll also want to regularly invest in your education--especially in the areas of finance, sales, marketing, spiritual and personal development--- so that you can become more strategic and intentional about your success and not so much "flying by the seat of your pants".

8. Be creative and solutions based
That's also a nice way to say never take no for answer. Be the MacGyver of your business. If you feel that you're lacking in resources, find a new way of acquiring them. Know there's a solution for every challenge!

Reserve a spot in Maria's 16-week Business Building Protégé Program and walk step-by-step into creating YOUR dream business http://passion2prosperity.com

Are you working with STRATEGIES?

I spoke to a new client today who'd like to transform her talents into a "real business."
She thought she had been working way too hard, fleeting revenue, & not getting the results she wanted.

Here are some of the priority items we're working on. See if you can relate:

* Using a strategic blueprint to form an organized marketing effort.
*Moving her business online as much as possible to take advantage of SEM.
*Integrating the most appropriate automation technology tools.
*Creating a scalable back end foundation to manage a hundred or a million clients.
*Creating ongoing followup email campaigns for customers and collaborators.
*Plan to create multiple, passive revenue streams that allows her to attract funding more easily.

GET THIS FOR YOURSELF: Join us for part 3 of my FR*EE "Passionate Business Telesummit" on Thursday 8/13/09.
http://passionatebiz.com/ <-- click here for details

Secrets To Being A Customer Magnet In Your Business

Do you have people in your life who are on the fence about doing business with you, or potential investors that haven't quite committed to writing that check? Do you know where to even find these people? Here are some simple strategies that help people take action. The process starts even before this person comes into your life!

1. Have your prospect's best interest at heart
People connect with authenticity and someone who is passionate and enthusiastic about what they're offering. Is that you? Are you genuinely interested in providing the right solution or just interested in making a sale. The more aligned you are with this process, the safer your prospective customer will feel.

2. Know who your ideal customer is
Many people try to serve too broad a demographic and therefore don't come across powerfully to anyone in particular. Narrow it down so that you can show up as a "specialist" to a certain group. They'll take action much faster. You may also be communicating to the wrong group altogether. Success here is not necessarily dependant on the number of people you're speaking to but the quality of those contacts.

3. Get crystal clear about the needs of your prospective customer
Ask questions that allow them to share what's true for them --- what are their priority needs? what is an ideal situation for them? This info can be conveyed in a conversation OR become proactive and address their needs in all written communication. Don't just keep pushing your agenda on them without understanding what they truly need.

4. Become useful or indispensible to them, regardless
Some time ago I had a desire to create a Joint Venture with another organization. Before they had decided to do business with me, I took the initiative to make some additional contacts for them and supported them in other ways because I was very clear what their overall needs were. Getting them to say "yes" to my agenda was a much easier process afterwards. You can even create this same situation when serving the masses online...what can you give first?

5. Communicate your value
You want to be crystal clear about what you're offering your prospects and the VALUE of that offer expressed in dollars, time, potential, peace of mind, etc. A confused mind will take no action. Don't make assumptions they have all pertinent information. There should be a very direct and clear connection between your solution and their pain.

6. Go where they go, know who they know
If you truly understand who your ideal customer is, then you'll know exactly where they "hang out" so you can join them and not waste time and resources trying to find customers in places where they aren't. If you're a restaurant, you'll want to connect with people who are hungry or planning to eat out. You'll also want to connect with people THEY look up to who can help boost your credibility with endorsements and testimonials. People in pain would be referred by medical practitioners, pharmacies, etc.

Join Maria for the "Passionate Business TeleSummit" to learn more about attracting the right customers and increasing your revenues http://passionatebiz.com

Resistance is futile!

If you don't have something you really want, is your first inclination to work harder for it? That's happened to me in the past. If you're familiar with the Law of Attraction, you know that having a clear vision of exactly what it is you want will help to manifest it in the physical a lot faster. Holding a vision and then taking inspired action is a much more efficient way to work. With that said--are you experiencing today all it is that you desire? Is there a gap between the two? If it feels like there is some distance between the two points, consider this: The moment you express a desire to have something in your life, the Universe/God/Divine Source instantly surrounds you with all that is necessary to make that a reality. How exciting is that! Knowing in my heart that to be true, if I'm not experiencing what I desire, then I look to inward to see what I'm resi sting. I need only acknowledge that I'm resisting and instead of having a need to explain or justify myself, I'll just begin letting go so that I can receive the support I need to help me achieve my goals.
Here are some "resistance points" that I've experienced over the years. I have hundreds I could share but these are just a few:

1. Is what you're asking for your deepest desire?
If you're not steadily moving towards your desire, it may not be what your heart wants. Have you compromised and asked for something that's not exactly what you want but may seem easier to attain? We want to learn to trust, regardless of the magnitude of the request, that if it's something our heart desires then it is most certainly within our grasp.

2. Regularly lowering your standards
Instead of focusing on achieving your dream, have you lowered your standards to accommodate your current situation? It's easy to live with the "discomfort" rather than going full out and pursuing your dreams, especially if you have any doubts about whether you may even deserve it or not. Keep aiming higher and know the place where you're currently at is a passing phase, a springboard to another level---enjoy the journey but don't get too comfortable there!

3. Not following up with people who are offering support
Support from someone with perhaps more experience than you can make all the difference in the world. There are times, however, when I've offered support to someone who never followed up. If help is a phone call away, why not make the phone call? Are you judging your "worthiness"? Are you attached to the pain and not as interested in moving forward? Start saying YES and allow others to help you.

4. Making MONEY an issue
This is a mantra of many people --- "I can't afford to have that" or "I can't move forward because I don't have money". Money is energy and it follows the opportunities--- opportunities don't necessarily follow money. So a more abundant stance would be to make decisions based on what it is you want to have or create in your life--- truly commit to having it regardless--- and then allow the resources to start showing up for you.

5. Making time an issue
Time is irrelevant when you're doing your dream. You'll find you're able to actually create more if it when you're doing things you love. It may also be better not to use time as a milestone--imposing too many deadlines in your life induces stress and you'll start sabotaging yourself at different points.

6. Being resistant to learning something new
If you're not experiencing all that you desire, chances are you don't know what you don't know. If you can embrace the fact that we're beings in a perpetual state of learning and growing, your next "teacher" will quickly appear. Do you resist immersing yourself in learning new strategies or building new support systems?

7. Feeling judged by those who may be trying to support you
Well wishers may step in to give you guidance, or point out areas that need to be corrected. Do you have a tendency to dismiss their support as judgement? Take any of it personally and feel slightly victimized? If you're taking support or feedback as an attack, it may be just your own feelings of inadequacy coming up and you're just reflecting it back to them. Allow others to share and resist the need to take any of it personally.

Join Maria's "Passionate Business Telesummit" to learn more strategies that will help you keep moving forward in business. Register for FR^EE at http://passionatebiz.com

Let's support each other!

Hope all is well with you this summer!

I'm always at my best--and have way more fun-- when I'm collaborating with othersas I help people create spiritually rewarding and financially abundant businesses.I wanted to share some win-win opportunities I think you'll enjoy.

*Affiliate openings
*Joint Venture alliances
*Be a guest on my radio show
*The Women's Information Network

1. Become a Passion To Prosperity Affiliate
Be part of my expansion efforts AND create "now money" for yourself!

I'll be announcing a new program next week and we're looking for quality people who'll help to share it with others.If you have a calling to empower others with resources they need to succeed...then you'll love this lucrative opportunity!
As an Affiliate, you'll be compensated for promoting your unique link to your mailing list and to talk aboutus on the social networks.

Simply sign in as an Affiliate at http://mariasimone.com/ and you'll immediately receive 2 emails.Hold on to those--this weekend you'll receive more specific details about language & compensation and a chance to get on a training call with yours truly.
For now, that's all there is to do!
***No need to register again if you're an Affiliate already***

2. Would you like to partner with me for a Joint Venture Alliance?
I'm looking for like minded individuals who have products and services that support entrepreneurs.Please send an email to simone@passion2prosperity.com so we can explore the possibility of promoting each other business.

3. Would you like to be a guest on my RADIO SHOW?
I'm excited to share that I'll be launching a new radio program and will begin booking guests soon.If you have a message to share with enlightened entrepreneurs, please send us a short emailwith your website link and brief description of what you offer to admin@passion2prosperity.com for consideration.
No attachments please!

4. Would you like to be a SHOW HOST yourself?
I'm currently helping to launch an exciting new venture, The Women's Information Network, and we're interviewing quality content providers.
Check out http://thewinonline.com/ (beta) and then send an email to simone@passion2prosperity.com for further details.
Your message could potentially reach millions of subscribers....this is a great promotional opportunity!

Hope to connect with you soon---have a fantastic weekend!
Maria Simone
http://passion2prosperity.com/
http://passion2prosperitybook.com/
http://the15minutementor.com/
http://twitter.com/mariasimone