The goal of every business owner is to create more value in his business.
The value of your business is important because it determines not only the quality of your life once you leave your company, but also how long it will take for you to be ready to leave. The sad fact is, too many owners just work in their business instead of on it. When you think of it that way, most small business owners are really just glorified managers. They know how to do their job really well, but they never build a company that can live without them. In essence, they are the company.
Value Catalysts are the structures, people, and processes that help owners work on their business instead of in it. You may recognize these people, structures, or processes also as, ‘value drivers’, or ‘business drivers’, though I find the term too constricting.
Effective VCs are often the difference between true owners, and glorified managers.
Suppose you were to leave for six months, for any reason at all. Ask yourself, would your business be able to survive? If you find yourself hesitating, it is likely that your business does not possess the VCs it needs.
Value Catalysts are not limited to business, and they do not just create more zeroes at the end of a sales price. A Value Catalyst creates more energy, time, or money than it takes in. In chemical reactions, Catalysts spark change. They jumpstart a chain of events, and the same can be said for VCs. Businesses that are in the midst of transition are not the only ones that benefit from value catalysts. All businesses should be created to build value for their owners.
By implementing VCs, you can truly change the direction of your business and the quality of your life.