One of the simplest ways to start growing your multiple is to start putting attention to it. You know the value of your home and your car, but what about your business? It is your biggest asset after all.
Eventually, all business owners ask themselves the question, "What is my company worth?" But the real question to be asking is "What COULD my company be worth?" By asking this question to yourself, you've brought awareness to your potential value growth opportunity. So to start, your task is to understand what your value is today. And beyond that, we arrive at our third way to grow your multiple.
he real key to growing value is to benchmark it consistently, year after year. Our favorite tool is TEVO® Score. Your TEVO® Score is a direct indicator of your multiple, and therefore your value. When you grow your TEVO® Score, you will grow your value. You can even make a game out of growing your score for yourself and your staff.
There are 5 Key Areas that make up a TEVO® Score. Take a look at these 5 areas for your business to see where you can make some impact.