How to build value for your small business with virtual business

Many of you have to wonder what is a virtual business. Before I explain how virtual business works, it is important to understand why small business owners fail to build a valuable company. It’s no secret that most of the small business owners build their operations. Unfortunately, very few are aware that they built a company that cannot be sold until it’s too late. As a business owner, we are usually faced with this situation during a crisis period, such as personal tragedy, burnout owners or health problems.

The reason most small business owners fail to build a valuable company is because they failed to see their business as an asset. They grow it by stuck in the mechanism of running operations everyday until they become business themselves. In other words, they failed to build a process that was driven than a business driven by the owner. This is where implementing a virtual business to take effect. You see …

Most of us start a small business:

To have independence
To get money
To be successful
To have pride
To create a better life
To stop struggling to pay the bill
To have fun things
But some of us start with “end” in mind, in other words, with a “out” strategy. The day when we have to transfer, sell or close our small business. Therefore, to build a valuable business, the best is to build a virtual business with a “wealth creation” mentality, than one “work replacement”. How, can virtual business help us build a valuable business?

Small business value rises according to how efficiently operates and how transparent is financially financially. The value is growing too, when a owner-manager becomes less important for everyday operations of business. The reason is because the survival of the business no longer depends on the existence of owners to continue their existence. This makes it easier to find investors and potential buyers when the time to “get out” business comes.

The cheapest way to build a business that is transparent and very effective is by implementing digitalizing processes and operations. This is where virtual business strategies play a role. Building a virtual business just means combining your offline and online systems. Having an online business, allows employees, vendors, and customers to communicate and coordinate more efficiently, without the necessary presence of managers at any time. By implementing the process, digitizing operations and implementing business strategies online, a small business is not only ready to be sold or transferred anytime, but the value also increases.

Jacqueline Burgoa was nominated by Forbes.com as “30 female entrepreneurs to follow Twitter”. MBA. 16+ years of virtual business owners. U.c. Berkeley Graduate. Working in Singapore, Bolivia & A. Mom of 2 Boys. He is the founder of Jackiebiz.com where small business owners and home-based business studies the latest virtual business strategies on how to work less and produce more in their business.
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