3 Key Business Value Drivers
Depending on the business, the 3 Key Business Value Drivers may vary but often they include:
A. Hub and Spoke
Central person involved in the company business is the owner. The business is very owner-dependent for brand, marketing, customer relations, procurement of new business, resolution of issues, management of employees, etc. Often this centricity is remedied by training managers to handle issues with employees and customers, by hiring a sales manager or marketing person (or a third party for this), establishing Standard Operating Procedures and Training protocols, etc.
B. Recurring Revenue
Focuses on cash flow and how to normalize it. Cash Flow is the lifeblood of the business. In a business which is seasonal or where revenues fluctuate with business cycles, recurring revenue can be a lifesaver for the business continuity. Various options can be examines for implementing recurring revenue such as subscriptions, VIP customer membership benefits, referral marketing, etc.
C. Growth Potential
Is a key component of the business, currently and in the future. A business that is not growing is stagnating or declining. First, the options for growth are evaluated and reasons for decline or stagnation are evaluated. Some remedies that are examined are new markets, new products, specialization in a market or set of products, determination of the most revenue-generating service or product, etc.