HOW THREE MOVES QUADRUPLED THE VALUE OF THIS BUSINESS

Are you feeling stuck trying to find a way to boost your business's revenue? The key to unlocking success might lie in creating a steady stream of income that rolls in automatically. Instead of focusing solely on what you gain, think about what value you can offer your customers on a regular basis.

Let's take a look at Laura Steward's journey with her company, Guardian Angel. Despite achieving a revenue of $400,000 with her IT consulting firm, she realized its worth was less than she hoped because it lacked recurring revenue and relied too heavily on her personal involvement. Determined to turn things around, she implemented three major changes.

First, she introduced "Angel Watch," a monthly program providing clients with ongoing tech support and protection. By demonstrating the potential savings compared to ad-hoc services, she convinced 90% of her clients to switch to this model. Next, she raised her personal consulting rates, nudging clients towards the more cost-effective Angel Watch program. Lastly, she included a "survivor clause" in contracts, ensuring the program's benefits would endure through any changes in ownership.

Through these strategic moves, Steward not only increased her company's value but also sold it for more than four times its initial valuation. Her story serves as a powerful reminder that focusing on long-term value and customer satisfaction can lead to remarkable growth and success.

Read the full article here: https://executiveleader.com/three-moves-quadrupled-value-of-business/

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