How to Build Value For Your Small Business

Many of you must be wondering what a Virtual Business is. Before I explain how a Virtual Business works, it is important to understand why small business owners fail to build valuable companies. It is no secret most small business owners spend years building their operations. Unfortunately, very few realize they built a company that cannot be sold until it is too late. As business owners, we are usually confronted with this situation during a time of crisis, such as a personal tragedy, owner burnout or a health problem. The reason most small business owners fail to build a valuable company is because they fail to see their business as an asset. They grow it by getting caught up in the mechanics of running the daily operations until they become the business themselves. In other words, they fail to build a process driven rather than an owner driven business. This is where implementing a virtual business comes into play. You see... Most of us start a small business: To have independence To make money To be successful To have pride To create a better life To stop struggling paying bills To have nice things But few of us start with the "end" in mind, in other words, with the "exit" strategy. The day when we will have to transfer, sell or close our small business. Therefore, to build a valuable business, it is best to build a virtual business with a "wealth creation" mentality, rather than a "job replacement" one. How then, can a virtual business help us build a valuable business? songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute songmute The value of a small business goes up in accordance to how efficiently it operates and how financially transparent it is. Its value grows as well, when an owner-manager becomes less central to the daily operations of the business. The reason is because the business survival is no longer dependent on the presence of the owner-manager to continue its existence. This makes it easier to find investors and potential buyers when the time to "exit" the business comes. The least expensive way to build a transparent and highly effective business is by implementing processes and digitizing operations. This is where the virtual business strategy comes into play. Building a virtual business simply means merging your offline and online systems. Having an online business, allows employees, vendors, and customers to communicate and coordinate more efficiently, without the required presence of the owner-manager at all times. By implementing processes, digitizing operations and implementing an onlinel business strategy, a small business is not only ready to be sold or transferred at any time, but its value also increases. Jacqueline Burgoa was nominated by Forbes.com as "30 Women Entrepreneurs to Follow on Twitter". MBA. 16+ Years Virtual Business Owner. U.C. Berkeley Graduate. Worked in Singapore, Bolivia & U.S. Mom of 2 boys. She is the founder of JackieBiz.com where small business owners and home based businesses learn the latest virtual business strategies on how to work less and make more in their businesses.