Discovery
DISCOVERY
DISCOVERY PROCESS
In the Discovery process, major challenges that the business or the owner is facing are identified. Here are a few questions:
- Is being in business today what you thought it would be like when you started your business?
- Do you have an accurate written vision of what your business will look like in 5 years time?
- Does this vision cover all aspects of your business?
- Are you earning an excellent return on your business investment?
- Is your business increasing in value on an annual basis?
- Are you under stress?
- Do you know the difference between working ‘on’ or ‘in’ your business?
- Are your Employees capable of running your business without you?
- Do you have an exit plan to leave your business?
WHERE IS YOUR BUSINESS?
– 5% of Owners receive generous salaries and the business pays large dividends. The Owners work ON the business and it is very valuable. A grow opportunity.
– 20% of Owners receive generous salaries but no dividends. They work IN the business and this is a low value business. An improve and grow opportunity.
– 40% of Owners receive a low salary from the business and receive NO dividends. They have a high mortgage and the business continually needs cash. This business has no value. A rescue and improve opportunity.
– 35% of Owners receive no salary or dividend. They live off cash flow and the equity in their home. The business loses money, has no value and is quickly on the road to going broke. A rescue opportunity.