Value optimisation is all about growing business value. Value optimisation factors are issues within the business that can be planned for and addressed prior to selling that will assist in a smooth sale transaction at the optimum price. The key value areas for your business are growth, performance and succession. By focusing on optimising these areas, your business value will improve.
The following illustration demonstrates the path you can take to optimise the value of your business.
Confused? How do I address these factors in my business?
Take a look at the following table that provides an indication of some of the industry best practice strategies that can be implemented to address these key value factors.
By addressing all of the above value factors, you will improve profit, improve the value of your business, and maximise your position when it is time to sell.
Some of the barriers to improving the value of your business and achieving your desired sale price could include:
If any of these barriers are relevant to your business, these should be addressed. Contact your MGI advisor should you require any business coaching or help with business planning.
Disclaimer: this information is of a general nature and should not be viewed as representing financial advice. Users of this information are encouraged to seek further advice if they are unclear as to the meaning of anything contained in this article. Bstar accepts no responsibility for any loss suffered as a result of any party using or relying on this article.
PPPM spells happiness. According to a recent course (University of Texas) ROI and Happiness:
This all leads to happiness in the workplace.
An esoteric concept, no not at all, but one to easily diminish if you don’t care about your people. Remember how you treat your people tells everything about you. We are not talking about avoiding negativity at all costs and pretending to be happy (note: high performing teams cannot carry passengers). Happiness leads to success not the other way around. It’s about being optimistic and resilient, employees are as responsible as employers to achieve workplace happiness. Attitude becomes a more important attribute than skill.
So, what does the science say:
This is why investing in employee happiness is a very smart thing to do.
To start with it would be useful for organizations to gain an understanding of the five main determinants of employee happiness: basic needs, autonomy, mastery, belonging and abundance culture. The issue is having balance, all are important and people perform best when they are in the ‘flow’, their competence is matched to their challenges.
Employees can do even more for their own happiness. In fact, the employee should be encouraged to take the lead.
The health of our relationships at work is more important than physical health in relation to happiness. The science shows, the more you genuinely care for your co-workers, the happier and more successful you are likely to be. Culture is an important determinant of happiness because culture is a feature of the environment and the environment wields a powerful influence over our behaviors.
Simple things the employer can do:
Simple things the employee can do:
In conclusion, a word of caution, you will be happier at work and hence, more successful. This is good, but if you are not careful, the success can sabotage your happiness. Wealth seems to be especially potent at relationship spoiling. Studies show that the wealthier we become, the less we prioritize our relationships over things like making money and being even more successful.
Are we paddling in the same direction at the same speed (scope, budget and schedule) and not up S##t Creek? How do you build team engagement and what makes an effective team?
Team is a common term that is not practiced well. Some of us have had the good fortune to have been in high performing teams and the memories and relationships are still important to us. Our memories connect us to doing a good job, exceeding expectations, learning, celebrating and having a sense of meaning and belonging. Teams just don’t happen, are often less effective than a group of individuals and can be terribly inefficient.
Problem solving: trust and communication
Tactical: clarity/ directive style
Creative: Freedom/ autonomy
Questions to ask your team regularly:
A leaders willingness to discuss learnings and openness to constructive criticism will over time, develop team engagement. This social exchange develops trust and a reciprocation of benefits. In the eye of the beholder, perception of mutual obligation develops and how an individual interprets cues and signals from their leader. No cues and signals, no teamwork, failure to deliver on cues and signals is worse than having no cues and signals at all.
In summary, our personal reflections on actions for team-work and what makes an effective team (Bold=Bang for Buck):
These are not new principles. Check out the biography on Napoleon Bonaparte and one of his quotes was:
‘morale is to physical as three is to one.’
Team engagement and alignment is one of the elements to improve overall performance & offers practical and effective solutions.
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