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5 Keys to Building a Valuable Business

There are so many reasons to start a business. The freedom, the flexibility, and the control may be appealing.

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There are so many reasons to start a business. The freedom, the flexibility, and the control may be appealing. Or the chance to make money doing something you truly love and the ability to be your own boss and set your own hours. 

But starting a business isn’t easy, and growing it is even harder. Building up from a good idea into a sustainable and profitable company is excessively difficult, and the probabilities are not on your side. 

Only 40% of startups will survive their first three years of business. Whereas previously operating businesses frequently come with a sustained business model, a built-in client base, and other advantages, which is why I frequently advise entrepreneurs to buy a business over starting from scratch.

As a business broker, my job is to help entrepreneurs in their business journey. Whether they are buying or looking to sell their business, I assist them with every stage of their entrepreneurial journey. Through my 20+ years in business brokerage, I have worked alongside hundreds of business owners and early-stage entrepreneurs to help them grow their businesses from a concept to the point of selling. 

I regularly advise clients on strategies and activities that will help them increase the value of their business so that when it comes time to list their business on the market, it will get them the maximum return on their investment. 

How It Began

Ever since the outset of my career, I have been dedicated to helping others grow their businesses. Early on, I had the opportunity to help 50 First Nations entrepreneurs with business plans, training, and mentoring. Since then, 47 of those entrepreneurs quickly grew their businesses and saw success in their unique industries. 

After this, I started an Ottawa franchise of Sunbelt Canada and have since expanded with locations all across the country. 

Through my work as a business broker, I have realized that my business growth, development, and entrepreneurship skills could be expanded to help other entrepreneurs grow their businesses. 

5 Keys to Building Valuable Businesses

You can attempt to sell your business anytime – but you cannot always get the value you want out of it. In the early years of our company, most of our sales were small, averaging less than $500,000. However, as we gained expertise and grew our own company, the size of the businesses we were selling grew along with us, and we now handle sales anywhere from $250,000 to $50 million. 

In order to help businesses grow and increase their valuation, I recommend a few key strategies to entrepreneurs.

1. Plan effectively

First, it’s vitally important to plan effectively. Creating a detailed business plan helps orient you for the decisions you need to make in your business’ immediate future. It gives you goals to look forward to, and core values to turn back to when you reach a difficult decision point. 

A nice thing about business planning is that it has no one size fits all approach – anyone can create business plans; just stick to the format that works best for you. 

“Success in business does not depend on what you say, what you hear, what you feel, what you see. It depends on what you do.” – Selwyn Goodwin

2. Be flexible

Now, though you have a detailed business plan, your plan doesn’t have all the answers. That’s why it’s very important for entrepreneurs to be flexible and willing to adapt to their rapidly changing industry. Like many small businesses, my company has weathered a few recessions, impacting our sales and revenue. 

We have experienced as much as a 70% drop in revenue year over year. A huge part of our survival during this time of revenue loss and recession was being flexible. Instead of sticking to one pre-determined price point, we kept our costs flexible to shrink them as needed. As a result, our sales bounced back quickly, and we were able to preserve the company’s infrastructure.

Similarly, ensuring that your payment solutions are as adaptable as your pricing strategies is crucial; utilizing a Smartpay EFTPOS system can provide the flexibility and reliability needed to maintain smooth transactions, enhancing customer satisfaction and operational resilience.

3. Ongoing training

Another huge key to success as a startup is ongoing training. Investing in regular employee training will help ensure that they are experts in their fields and can handle the work you send them. Another reason ongoing training hugely benefits business owners is because it improves retention rates. 

When employees are actively involved in training, they feel that their company is helping provide them with value, and they are more likely to stay for a longer period of time. 

4. Passion for clients and customers

The next key to entrepreneurial success is a real passion and devotion to achieving the goals of your customers or clients. Whether you’re selling a product or service, creating value for your customers and focusing on client retention will ensure your success over the long term. 

Now, in practice, this looks like getting to know clients and their needs, committing to customer service training, and constantly inviting feedback to determine how best to serve your customers. Being devoted to achieving your clients’ goals will be evidenced through your work, and will affect the customer experience overall.

5. Always innovate

Finally, your business can only succeed if you consistently innovate and drive procedures forward. This goes beyond just being flexible, because to really be successful over the long term and build value in your business, you need to encourage innovation and creativity amongst every individual employee. A culture of innovation across your organization will help push you forward and ensure your business adapts to new technologies and processes. In my entrepreneurial journey, integrating innovations in technology, recruiting, and support systems into our business practices has helped us continue expanding. 

Looking to The Future

At the root of it all, my company is built around honesty. We encourage a culture of honesty and transparency, whether that be through honest communication with our clients, dealing with banks, lawyers, accountants, wealth planners, others, and of course, between employees. 

This core value has helped orient us through difficult decisions we’ve made throughout our many years of experience in business brokering. It has helped us recruit and retain great experts who are well-trained, well-supported, and motivated to achieve our client’s goals. 

Wherever you are in your entrepreneurial journey, establish your core values now, and allow them to orient you throughout your business decisions, whether you’re buying a new business, or growing yours and looking forward to the day you’ll be able to sell it. I can not wait to see what tomorrow brings for you. 

Greg Kells is the Owner and Broker of Record of Sunbelt Canada. Sunbelt is the most successful business brokerage in Canada. They have been successfully growing and selling businesses for over 20 years, with Greg at the forefront. Greg is a successful business broker, the president of the International Business Brokers Association of Canada, and a serial entrepreneur, dedicated to helping out entrepreneurs and small business owners in their business buying and selling journeys.

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Business

The Entrepreneur’s Reading List That Transforms Ideas Into Empires

These must-read titles and writing insights reveal how entrepreneurs turn bold ideas into empire-level success.

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top entrepreneurship books for business growth
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Entrepreneurship is powered by stories—of accomplishment, failure, and decision moments that define businesses. Books are maps, providing insight from individuals who’ve traversed the road ahead. (more…)

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Entrepreneurs

The Leadership Shift Every Company Needs in 2025

Struggling to keep your team engaged? Here’s how leaders can turn frustrated employees into loyal advocates.

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Bridging the gap between employees and employers
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In workplaces around the world, there’s a growing gap between employers and employees and between superiors and their teams. It’s a common refrain: “People don’t leave companies, they leave bad bosses.”

While there are, of course, cases where management could do better, this isn’t just a “bad boss” problem. The relationship between leaders and employees is complex. Instead of assigning blame, we should explore practical solutions to build stronger, healthier workplaces where everyone thrives.

Why This Gap Exists

Every workplace needs someone to guide, supervise, and provide feedback. That’s essential for productivity and performance. But because there are usually far more employees than managers, dissatisfaction, fair or not, spreads quickly.

What if, instead of focusing on blame, we focused on building trust, empathy, and communication? This is where modern leadership and human-centered management can make a difference.

Tools and Techniques to Bridge the Gap

Here are proven strategies leaders and employees can use to foster stronger relationships and create a workplace where people actually want to stay.

1. Practice Mutual Empathy

Both managers and employees need to recognize they are ultimately on the same team. Leaders have to balance people and performance, and often face intense pressure to hit targets. Employees who understand this reality are more likely to cooperate and problem-solve collaboratively.

2. Maintain Professional Boundaries

Superiors should separate personal issues from professional decision-making. Consistency, fairness, and integrity build trust, and trust is the foundation of a motivated team.

3. Follow the Golden Rule

Treat people how you would like to be treated. This simple principle encourages compassion and respect, two qualities every effective leader must demonstrate.

4. Avoid Micromanagement

Micromanaging stifles creativity and damages morale. Great leaders see themselves as partners, not just bosses, and treat their teams as collaborators working toward a shared goal.

5. Empower Employees to Grow

Empowerment means giving employees responsibility that matches their capacity, and then trusting them to deliver. Encourage them to take calculated risks, learn from mistakes, and problem-solve independently. If something goes wrong, turn it into a learning opportunity, not a reprimand.

6. Communicate in All Directions

Communication shouldn’t just be top-down. Invite feedback, create open channels for suggestions, and genuinely listen to what your people have to say. Healthy upward communication closes gaps before they become conflicts.

7. Overcome Insecurities

Many leaders secretly fear being outshone by younger, more tech-savvy employees. Instead of resisting, embrace the chance to learn from them. Humility earns respect and helps the team innovate faster.

8. Invest in Coaching and Mentorship

True leaders grow other leaders. Provide mentorship, career guidance, and stretch opportunities so employees can develop new skills. Leadership is learned through experience, but guided experience is even more powerful.

9. Eliminate Favoritism

Avoid cliques and office politics. Decisions should be based on facts and fairness, not gossip. Objective, transparent decision-making builds credibility.

10. Recognize Efforts Promptly

Recognition often matters more than rewards. Publicly appreciate employees’ contributions and do so consistently and fairly. A timely “thank you” can be more motivating than a quarterly bonus.

11. Conduct Thoughtful Exit Interviews

When employees leave, treat it as an opportunity to learn. Keep interviews confidential and use the insights to improve management practices and culture.

12. Provide Leadership Development

Train managers to lead, not just supervise. Leadership development programs help shift mindsets from “command and control” to “coach and empower.” This transformation has a direct impact on morale and retention.

13. Adopt Soft Leadership Principles

Today’s workforce, largely millennials and Gen Z, value collaboration over hierarchy. Soft leadership focuses on partnership, mutual respect, and shared purpose, rather than rigid top-down control.

The Bigger Picture: HR’s Role

Mercer’s global research highlights five key priorities for organizations:

  • Build diverse talent pipelines

  • Embrace flexible work models

  • Design compelling career paths

  • Simplify HR processes

  • Redefine the value HR brings

The challenge? Employers and employees often view these priorities differently. Bridging that perception gap is just as important as bridging the relational gap between leaders and staff.

Treat Employees Like Associates, Not Just Staff

When you treat employees like partners, they bring their best selves to work. HR leaders must develop strategies to keep talent engaged, empowered, and prepared for the future.

Organizational success starts with people, always. Build the relationship with your team first, and the results will follow.

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Entrepreneurs

What Makes an Entrepreneurial Leader? Traits of the World’s Best Innovators

Inside the mindset of entrepreneurial leaders who transform risk, passion, and vision into world-changing results.

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When you think of Richard Branson (Virgin Group), Bill Gates (Microsoft), Steve Jobs (Apple), Rupert Murdoch (News Corporation), and Ted Turner (CNN), one thing becomes clear: they are not just entrepreneurs, they are entrepreneurial leaders. (more…)

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Entrepreneurs

Building a Business Empire: Lessons from the World’s Boldest Entrepreneurs

Learn essential lessons, success strategies, and mindset shifts every aspiring entrepreneur needs to overcome challenges and build a thriving business.

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how to build a business empire
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Back in July 2017, I attended a business seminar on entrepreneurship in India. With my appetite for learning and meeting new people, I wanted to explore the latest developments in the entrepreneurial world. (more…)

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