Standard operating procedures (SOP) add significant value and are essential in growing operational excellence, quality and service consistency, as well as reducing key person risk when you are preparing your business for a sale.
The attached guide is a great resource to help you prepare standard operating procedures for your business. Your SOP documents add value in how they effectively capture the secret sauce of what makes your business successful. It gives you a structured framework to find and document the best practices in your business so you can make them your standard way of doing business. These documents become a resource you incorporate into your every day operations of your business to drive quality, consistency and superior operational practices. They fast-track on-boarding and training of new staff and reduce risk in the organization when people need to be replaced in key roles.
Lastly, SOPs are one of the value-added resources you put into your data-room that buyers look for when assessing the attractiveness and value of your business in a sale.
You are welcome to download the attachment, we'd like to hear your thoughts on this, please share in the comments and pass it on. Remember, only 1 in 10 owners exit successfully, will you? If you want to exit in the next 5 years and you aren't diligently transitioning already, you are taking a huge risk. If you want an outside opinion on your exit readiness, and the things you can do to maximize value such as SOPs, we have a pro-bono exit readiness assessment you can do in 5 minutes, that will give you some great insight, at no cost, no risk and no obligation. MExit – Value Builder PREScore - https://score.valuebuildersystem.com/prescore/proactv-business-solutions-inc/robert-welke #exitplanning #exitexecution #successionplanning #transitionplanning #esgconsciousbusiness #esg #sellingyourbusiness #knowgrowsell