Take Five #142: Top business attributes that influence a company’s valuation, and more
Top five must-reads this week in the world of SMB acquisitions and operations
Subscribe to Take Five to get our top 5 quick weekly reads on the world of SMB, M&A, and EtA from the team at Kumo. Kumo aggregates hundreds of thousands of deals into one easy-to-use platform so that you can spend less time sourcing, and more time closing deals.
Take Five is created and sponsored by Kumo, a powerful deal aggregator to help supercharge your deal sourcing at withkumo.com.
What can you do with Kumo?
Browse 120,000+ deals from hundreds of brokers and every major marketplace, with 700+ unique deals added daily.
Save time and stop reviewing duplicate deals. Kumo matches identical deals across hundreds of sources so you can view unique business opportunities, even if they’re slightly different across different websites.
Get a daily email for deals that match your search criteria
Take Five #142: Top business attributes that influence a company’s valuation, and more
1. When is it time to go into full-time search mode?
2. Slowing down after the first business purchase in a roll-up strategy can have dire consequences
3. Cut-and-dry process for writing Standard Operating Procedures (SOPs)
Since then, I’ve come to appreciate what SOPs do — they let a new person tackle a project with minimal hands-on training. They allow you to create institutional knowledge that is outside of individuals’ brains.
This saves time for both new hires & old hires — it allows new hires who are self-starters to excel. It allows old hires to focus their training efforts on the truly hard stuff — tasks requiring difficult-to-document judgement calls.
You and I both know we have probably dozens of processes in our business that could be documented.
Today, you’re going to do things, in this order:
Pick a process you do (not that someone else does). Write the SOP.
If you need a template, ChatGPT is your friend. But I like to name the SOP with the end state of what’ll happen once the SOP is executed.
For example, I don’t name a payroll SOP as “Payroll SOP”. I call it “SOP: Weekly payroll is processed.” It’s a minor difference, but will make life easier as the SOP list gets longer.
It’s important that the person who DOES the process is the one to WRITE the SOP. So this has to be a process you actively execute everyday.
Find the rest of Guesswork Investing’s post here.
4. Top business attributes that influence a company’s valuation
5. Lender sheds light on whether a borrower can have multiple SBA loans to purchase additional businesses
Loved what you read? Subscribe to Take Five to get our top quick reads every week from the team at Kumo. Kumo aggregates thousands of sources into one easy-to-use platform so that you can spend less time sourcing, and more time closing deals.