When it comes to selling your business, the old saying is true: “Your people are your most valuable asset.”
Buyers interested in your business always look closely at your employee and management infrastructure. They want to see a confident managers leading loyal, motivated employees.
When you have a documented track record of solid management it will always increase the value of your business when it’s time to sell.
Here are a few ways to quickly strengthen your management infrastructure:
- Set sales goals with incentives to inspire key managers to drive more business.
- Provide the tools and support managers need to achieve the goals you’ve set.
- Develop a strategic appraisal system to monitor staff and manage performance.
Remember – monetary bonuses aren’t the only way to inspire and motivate staff.
Improve the work environment. Provide job training classes. Even a word of recognition from the boss can go a long way toward building employee loyalty.
Stay tuned for Tip #4.