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94. WreckWeek Session Part 2: The 3-Step Process to Build Value in Your Business
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Have you ever wondered how to truly build and enhance the value of your collision shop?
Building your business's value can be a complex process due to various factors. It involves understanding and adapting to market dynamics, managing finances effectively, streamlining operations, maintaining customer satisfaction and so much more.
Fortunately, with the right strategies and tools, you can simplify these complexities and maximize your business's value, paving the way for a successful exit.
At the Wreck Week Conference last June, Matt DiFrancesco broke down this complex process into a three-step journey for collision shop owners.
Join Matt in the second installment of his three-part series, where he explores the concept of using a GPS approach to build business value and explains why having a business continuity plan is crucial for all entrepreneurs.
Matt also talks about:
(00:30) The first step in building value in your business
(03:11) What Matt loves about the collision industry
(03:53) How to assess your starting point
(04:38) Two ways to close your value gap
(05:48) What is business continuity?
(06:56) Four areas to consider when putting together a business continuity plan
(08:57) The importance of having a Buy-Sell Agreement
(11:02) The problem with “cookie-cutter” valuations
(12:18) How often should agreement and other documents be reviewed?
(17:07) Why stay bonus plans are great for key employee retention
(22:28) The benefits of choosing a C-Corp structure
Connect with Matt DiFrancesco:
matt@highliftfin.com
(814)201-5855
LinkedIn: Matt DiFrancesco
LinkedIn: High Lift Financial
Facebook: High Lift Financial
Instagram: @high_lift_financial
Youtube: @highliftfinancial
Disclaimer:
DiFrancesco Financial Concierge, LLC, d/b/a High Lift Financial, is a Pennsylvania-registered investment advisor and may conduct investment advisory services in states where it is registered, exempt, or excluded from registration. The content provided herein or on our website should not be construed as an offer for investment advice or for securities, insurance, or other investment products. Investments involve the risk of loss and are not guaranteed. Consult a qualified legal, tax, accounting, or financial professional before implementing any investments or strategy discussed here.
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