Episode 5 — Kerri Salls Presents a Roadmap for Scaling Your Business
Business Breakthrough Thursdays
In Episode 5 of Business Breakthrough Thursdays, host Dave Fionda speaks with growth advisor and exit strategist Kerri Salls about the pain points associated with building a business, how to create an employee-powered culture of excellence, and how to break through the growth obstacles your organization is facing. Learn:The five keys to building a successful business in the "new normal"How leaders drive culture, for better or for worseHow to quickly re-write the rules for business operations The biggest obstacles to creating change in an organizationHow to identify your leadership blind spotsThe importance of deadlines and the cascading dangers of procrastinationHow to transition from a "startup" to a "scaleup"How even the smallest of organizations can use free tools to implement world-class management strategies and frameworks to drive change and create successKerri's five keys to building a successful business in the "new normal" are:Fill in the blanks in your corporate vision, plan, and forecast. You've got to ensure that all aspects of your business are strategically aligned with each other.Know your finances, funding, cash flow and burn rate inside and out. If you start spending money you don't have, or you continue spending money without knowing where you're trying to end up, or without knowing where your future cash is coming from, you will be out of business before you really get ramped up, and maybe before you even figure our exactly what your company's "new normal" is going to be.Make sure you have the right team in place for today's business environment. Everyone's team has been decimated by COVID-19 and people are having to regroup and redesign who should be on their team, where they're going to work from. What's the purpose of everybody's role on the team? You need to be sure that your team, your partners, your executives are the right people on the bus for this new normal. Re-evaluate your competition. What are they doing to succeed during the "new normal" and what can you do that's far better than them. You can't afford to start something new in this environment to start something if you're not going to be able to be the leader right off the bat — the first, the best, or the only. Get your pricing right. You can't afford to position yourself as a commodity just to get in the market, or just to have cash flow. That shortchanges you and your business long term.Kerri is an experienced owner, consultant and advisor who helps owner led businesses develop scalable growth strategies, performance excellence and multiply their businesses long term value. She is among the elite exit strategists entrusted by owners of private companies to guide them through pre-transaction preparations to reduce risk and increase intrinsic business value by 70-100%. Kerri is also an accomplished speaker, podcast host and the author of the books "Harvest Your Wealth" and numerous other books, white papers and articles.
In episode 613 of the Get Published Podcast, Host and 15-Time Bestselling Author Paul G. Brodie talks with Kerri Salls about how to create a press release for your book launch. Find out more about how we can help you Share Your Story at www.GetPublishedPodcast.com
VC 012: Kerri Salls: Building Business Value by Focusing on Customer Value
Kerri Salls, best-selling author of Multiply Your Business Value in 3 Steps, specializes in helping clients grow the value of their businesses. She starts with internal value: people, process and values that operationalize best practices into a business. This results in increased external value: value to a buyer of the business. We also discussed what this means in the context of the current COVID-19 (at least when we recorded this episode), and how the lockdown exposes the truly important in our businesses...what may have been a back-burner initiative is now critical. Learn more about your ad choices. Visit megaphone.fm/adchoices
Kerri Salls – 3X Value Growth: Build Companies with Value
Why you have to check out today’s podcast: Learn how pricing audit relates to growing a company’s value You will learn why there is a need to document processes to increase a company’s valuation Understanding the role of an exit strategist and value growth advisor in terms of the goals the company wants to achieve Kerri Salls, MBA, CVGA is a certified value growth advisor, author, and speaker. She works as a value growth advisor to underperforming and closely held businesses by helping them to revamp and improve operations for sustainability and scalability. Added to this, she is also a podcast show host of 3x Value Growth Podcast. In this episode, Kerri shares how she operates at the intersection of strategy, systems, and value growth to help middle-market companies multiply value three-fold in three years. Just as it is important to build a product with value, Kerri helps build companies with value. Tune in to this episode to know more. “What is value? I am focused on the enterprise value itself-stand alone enterprise value-but where that comes from is your vision of value you want inside your company.” -Kerri Salls Topics Covered: 01:45 - The difference between value growth and exit strategy, in term of growing a company’s worth 03:00 - Skillset of a value growth strategist and an exit strategist in terms of strengthening a business 05:36 - What is value for a company and how do you judge the value strategy prior to the exit 07:42 - How does value relate to a market capitalization 10:23 - Does increasing profit margin also doubles the value of the company? 11:26 - How does documentation processes improves a company's valuation 13:31 - Common problems Kerri helps solve in companies she helped out 16:19 - Difference among advisor, consultant, mentor and coach 17:39 - Thoughts of her being the ‘chief investigator of a company’ to look for what is broken and the red flags 18:12 - How Kerri does her ‘value audit’, the places that usually had the red and yellow flags Key Takeaways: “The value on an outside basis just keeps rolling up and up and up. I've seen clients who start at eight and 9% who get to well above 20%. I have client stories that I do in my webinar wherein less than two years they are increasing the value of their business, 300 400, 500% just because we are giving them the structure and the foundation and we're taking the owner out of the hot seat of being the gatekeeper for every one of those decisions. Now there's a structure in place so they can indeed take that three-week vacation even without the cell phone.” - Kerri Salls “Every one of those elements that make you more understood as being like a public company because you're so well managed--that increases value. That can't be taken away from you, that they can't whittle it down when you're in a competition about pricing.” - Kerri Salls Connect With Kerri Salls 3xvaluegrowth.com Email:firstname.lastname@example.org LinkedIn Facebook Podcast Connect with Mark Stiving Email: email@example.com LinkedIn Twitter