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64% of all businesses fail within 10 years. The number one reason for that failure, regardless of the type of business, whether online or offline, is that they did not master these 4 things:
1. How to continuously get new customers (create a steady flow)
2. How to make them happy with the purchase or experience
3. How to get them to buy more often
4. How to get them to pay more for the value your service or products bring to them
Stick around and we will share with you how you can do all of these, what happens when you do, and what happens when you don’t.
None of this is new, but millions of businesses are still failing. Businesses are not just failing, but those that are surviving or even thriving can make things even better if they learn how.
Facts that validate this statement:
Welcome to Sharpening Your Axe, where we unveil the startling reality that 92% of businesses are valued far below what their owners believe. This widespread misconception stems from a lack of awareness about the Key Performance Indicators (KPIs) that truly define a business’s value. Many business owners focus solely on revenue, but the real value lies in consistent profitability, efficient systems, scalable operations, and reduced dependency on the owner.
At Sharpening Your Axe, our mission is to equip business owners with the knowledge and tools needed to accurately value and grow their businesses.
Whether you're planning to exit, grow, or even start a business, understanding your business's true value is crucial.
By focusing on these end goals, you can maximize your business's value, work less, and earn more both now and in the future.
One of the most common mistakes business owners make is overestimating their business’s worth based on revenue or personal opinion.
For example, we worked with a building contractor who earned over $3 million annually and had a personal income of around $500,000.
Initially, he assumed his company’s value would be four to five times its EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization). However, our thorough valuation revealed significant discrepancies, showing the importance of understanding and enhancing specific value drivers.
Business owners should focus on implementing systems that ensure efficiency and consistency across all operations.
Utilizing technology and AI can streamline processes and improve productivity. It's also vital to keep up with industry changes and update your business model accordingly.
Our platform offers courses covering everything from business growth and marketing to leveraging AI effectively. This knowledge helps create a resilient and scalable business.
AI is reshaping industries and taking over many jobs, making it essential to understand how to use it to your advantage.
While AI is not perfect, integrating it with human expertise can significantly enhance customer service and operational efficiency. Ignoring AI is not an option if you want to stay competitive.
Our courses teach how to merge human skills with AI to maintain the personal touch that customers value.
Sharpening Your Axe is a comprehensive course platform designed to help business owners and their teams build robust, systematized, and scalable businesses.
With over 100 courses available, including 40 to 50 updated for 2024 and another 50 set to be updated within the next 30 days, our platform covers all pertinent topics for small to midsize businesses.
These topics include business, marketing, sales, HR, hiring, developing systems, social media, AI for your business, and even starting a business from scratch.
Our name comes from a statement made by Abraham Lincoln many years ago. He stated that if he were given the task of cutting down a large tree and given six hours to do it, he would spend the first four hours sharpening his axe.
We believe that he is referring to being prepared and making the most of the tools available to help him do the very best job with the least amount of work.
One account allows the business owner to learn these essential topics and grant access to specific courses for employees.
This approach ensures that every course taken enhances the skills and preparedness of your team, making them better equipped for success. With one low monthly fee, unlimited courses are available to all of your employees through your company credentials.
Each employee has limited access based on what you grant them, ensuring targeted learning.
We continuously ask you and your team questions throughout the course to understand what would help you even more.
We aggregate this data to build new courses around the next big thing you need to learn. By finding experts who have already achieved the exact goals you want to reach, we ensure that our courses are always relevant and practical.
In addition to our courses, we offer done-for-you services, if desired. However, we encourage you to learn from the courses to be prepared for future challenges.
This knowledge also helps you make more informed decisions if you decide to hire us to implement solutions for you.
Join Sharpening Your Axe today and start building a better, more profitable, and more efficient company. Our expert-led courses and supportive community are here to help you unlock the true value of your business and achieve lasting success.
Customize your learning path and access a wealth of knowledge curated for your needs. With no hidden fees, it's all about empowering your learning journey, tailored to your preferences.
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