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  • Writer's pictureEric Williams

New Year's Resolution: build a more marketable and valuable business

Is the start of the calendar year a good time to set goals in the form of New Year's Resolutions? Research indicates that only 8% of people who set such resolutions keep them.

I'll leave it to the psychologists to discuss the many reasons why people fail to keep their resolutions, but I have four observations that I believe contribute to this:

  1. The strategies and/or the tactics to implement the goals are too abstract.

  2. People set too many goals and because of this their energy, time, and focus becomes dissipated.

  3. The perceived outcomes are not valuable enough to the goal setter.

  4. Too often people do not have others who are impacted by the outcome holding them accountable, assisting, and providing encouragement.

I'd like to suggest a New Year's Resolution that every business owner would benefit from: building a more marketable and valuable business. For most business owners their company is their largest asset, and making a change that increases the value by just 10% would have a large impact on their personal net worth. However, an effort to simply increase a business' value and marketability is not really all that concrete, is it? How do you know what issues will positively or negatively impact business value and marketability?

Codiligent offers a no-cost and no-obligation marketability assessment to owners of businesses with $2+ million in annual revenue that have been operating for at least three fulll years. >> learn more

Happy New Year!


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