Connect with us


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.



Image Credit: Unsplash

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.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *


10 Lucrative Buy and Sell Businesses to Start in 2024

The buy-and-sell business model provides opportunities across many niches



Businesses to start in 2024

In the dynamic landscape of 2024, starting a business that capitalizes on buy-and-sell models can be incredibly lucrative. This article explores ten different models that entrepreneurs can consider. These ventures range from real estate flipping to trading in domains and luxury items, providing a broad spectrum of opportunities regardless of your initial capital or interest area.

1. Car Flipping

Flipping cars can be a very lucrative business venture for an individual with business acumen, an eye for value, and mechanically adept at cars. It involves buying under-priced cars, restoring, and selling them for a profit. For deeper insights and opportunities in this market, refer to

2. Real Estate Flipping

Flipping real estate—be it houses, condos, or even commercial properties—remains pretty solid business, especially in markets where real estate values are on the way up. Investors buy properties relatively low, do rehab or renovation, then sell at a profit.

The success of the area is endowed with a huge potential spotlight, the ability to juggle various elements such as local real estate market knowledge, and efficient management of renovations.

3. Vintage E-commerce

With the advent of technology, it became easy to sell vintage or retro items over the online selling platform. Be it clothes, furniture, or even collectibles, consumers these days prefer something unique that is eco-friendly and which may have a nostalgia quotient in it. Hence, it brings the opportunity to open an e-commerce shop effectively.

4. Domain Flipping

If you have the skill to predict catchy phrases or business names that would be popular in the future, then buying and selling domain names would be a very profitable business. Register prices are available to purchase domains, which later can be sold at high prices to interested parties or businesses that wish to get an early online identity.

5. Luxury Items

One of the most promising buy-and-sell businesses is the luxury market, and what makes it very attractive is its less sensitivity towards economic downturns. Some of the common items in the luxury market include high-end watches, jewelry, and art, rare cars, all with high yields. Most times, items do appreciate, especially when they are limited editions.

6. Sports Memorabilia

While the sports memorabilia trading business can at times seem lucrative, especially when one focuses on big personae or big events, authenticity and rarity can definitely help items fetch top dollar. Provenance and limited supply both go towards inflating their values.

7. Sneaker Reselling

In recent years, the sneaker resale market has exploded, fueled by a commodity of scarce releases and athletic brand collaborations with a list of celebrities. Today, with operations such as StockX and GOAT, it’s really that easy to break into the worldwide market. It’s pretty easy to find your buyers and make a very good profit if you’re targeting the right trend and releases.

8. Book Flipping

Flipping rare and first editions can become a really meaningful, and yes, one more profitable, business for a book lover. Sometimes the signed ones, rare manuscripts, or those early editions of famous novels could sell for thousands of dollars, usually done by collectors or academic institutions.

9. Furniture Upcycling

Upcycling furniture consists of restoring and using second-hand furniture to sell it at a higher price. For the environmentally aware consumer, this business model has great appeal. It could be pretty profitable if done with good taste and talent in design and restoration.

10. Electronics Flipping

Smartphones, tablets, and laptops resell at values significantly high; hence, business ensues. Buy, refurbish, and sell in better condition to appeal to budget-minded consumers looking for technology at more affordable price points. 

Overall, The buy-and-sell business model provides opportunities across many niches. Be it real estate flipping or vintage item upcycling, you can succeed in both models with market understanding and trend application. That, with careful planning and strategic investment, will throw huge financial returns for these business models in 2024.

Continue Reading


How Your Business Can Outmaneuver Your Competitors by 85%

Did you know that companies that master big data can outmaneuver competitors by 85% in sales



big data strategy

Did you know that companies that master big data can outmaneuver competitors by 85% in sales and more than 25% in gross margins? Sounds inspiring, right? But the thing is that data alone isn’t enough. Rather, it’s the strategy behind it that unlocks these enviable boosts. So, this article explores how to make the most out of your big data and build a strategy that’s functional and competitive. (more…)

Continue Reading


Most Entrepreneurs Fail to Do This and It’s Killing Their Success

Celebrating progress also provides entrepreneurs with the psychological sustenance needed to endure the marathon of building a business



celebrate your milestones

The journey from a mere concept to a tangible reality is one of the most exhilarating yet challenging paths an entrepreneur can navigate. This odyssey is punctuated by milestones that stand as testaments to perseverance, innovation, and relentless hard work.  (more…)

Continue Reading


9 Ways Augmented Reality Gives Your Business a Competitive Edge

By embracing AR technology, companies can unlock new opportunities for growth, innovation, and success



augmented reality in business

Leveraging Augmented Reality for Business Advancement: Exploring Applications

In the ever-evolving landscape of business innovation, Augmented Reality in business emerges as a transformative force, reshaping traditional paradigms and unlocking new opportunities for growth and advancement.

Through a comprehensive examination of AR’s capabilities, applications, and business benefits, this article serves as a roadmap for enterprises seeking to harness the full potential of augmented reality to propel their success in the digital age.

UNI.Agency as a forefront developmental agency tailors unmatched digital products and immersive experiences. They help companies outperform their competitors and customers’ expectations. And now, there is time to delve deep into the AR realm.

Gaining Insight into Augmented Reality

From revolutionizing customer experiences to optimizing operational efficiency, AR in retail is poised to drive significant advancements in how businesses operate and engage with their stakeholders.

Augmented Reality (AR) seamlessly integrates digital information and virtual objects into the real-world environment, offering users an immersive and interactive experience through devices like smartphones or AR glasses.

It revolutionizes various industries, from entertainment to healthcare, by enhancing perception and creating innovative opportunities for engagement and exploration in the digital era. AR not only enriches our understanding of reality but also opens up new possibilities for creativity, communication, and problem-solving, making it a powerful tool for businesses seeking to enhance customer experiences and streamline operations in an increasingly digital world.

Differentiating Augmented Reality and Virtual Reality

Augmented Reality (AR) overlays digital elements onto the real world, enhancing the user’s perception of their environment. Virtual Reality (VR), however, immerses users in entirely virtual environments, blocking out the real world. There are some core differences between these two technologies in gear and display approaches:

  • AR enriches reality with digital information, while VR creates entirely immersive virtual experiences.
  • AR typically requires less specialized hardware, like smartphones or AR glasses, while VR often involves dedicated headsets.
  • AR is commonly used for enhancing real-world experiences, such as in gaming, retail, and navigation, encouraging augmented reality shopping. Whereas VR is primarily employed for immersive simulations, training, and entertainment in fully virtual environments.

The Influence of AR on the Customer Experience Journey

As of 2024, Augmented Reality (AR) has evolved into an indispensable tool across various sectors, offering immersive and interactive experiences that seamlessly blend digital elements with the real world.

Stimulating Interest

Augmented Reality (AR) captivates customers by offering visually engaging experiences that spark curiosity and intrigue, enticing them to explore products or services further.

AR’s ability to overlay digital content onto the real world creates an immersive and attention-grabbing experience, drawing customers in and igniting their interest.

Educating and Empowering Users

AR in business empowers users by providing interactive and informative experiences that educate them about products, services, or concepts in a visually compelling manner.

Through AR, customers can interact with virtual models, animations, or informational overlays, gaining a deeper understanding of the features, benefits, or use cases of the offerings.

Exploring Further Depths

AR encourages customers to delve deeper into products or services by offering immersive and interactive experiences that go beyond traditional marketing materials.

By allowing users to explore virtual representations of products in real-world contexts, AR in retail provides a unique opportunity for customers to visualize how offerings fit into their lives, fostering deeper engagement and understanding.

Business Benefits of Augmented Reality

Businesses utilize AR for diverse applications, including product visualization, virtual try-ons, and enhanced customer engagement. In education, AR transforms learning experiences by providing interactive simulations and visualizations.

Additionally, AR has become integral to industries such as healthcare, where it facilitates surgical training and patient education. With advancements in AR technology and widespread adoption, it continues to shape how we perceive and interact with our environment, ushering in a new era of innovation and connectivity.

Let’s look at why AR has become so indispensable as a business tool nowadays.

Revolutionizing Training Methods

AR in business transforms training by offering immersive, interactive simulations that replicate real-world scenarios, enhancing employee learning and skill development.

It’s lucrative for hands-on training experiences. Since there’s no need for physical equipment or environments, reducing costs and logistical constraints while improving knowledge retention and performance.

Boosting Productivity Levels

Augmented Reality in business boosts productivity by providing real-time access to information and guidance, allowing employees to complete tasks more efficiently and accurately.

Through AR-powered tools and applications, workers can streamline workflows, troubleshoot issues, and collaborate effectively, resulting in increased output and operational efficiency.

Implementing Dynamic Marketing Approaches

AR enables businesses to implement dynamic marketing strategies that captivate and engage audiences in unique ways.

By integrating AR into marketing campaigns, companies can create interactive experiences that drive brand awareness, customer engagement, and sales conversions, setting themselves apart in a crowded marketplace.

Fostering Product Development

Augmented reality and marketing foster innovation in product development by facilitating virtual prototyping, design iterations, and collaborative decision-making.

With AR, teams can visualize and test product concepts in 3D, gather feedback from stakeholders, and make informed design decisions faster, leading to faster time-to-market and more successful product launches.

Creating Tailored Customer Experiences

AR creates personalized customer experiences by allowing users to interact with products and services in customized ways.

Through AR-enhanced applications and experiences, businesses can tailor content, recommendations, and promotions to individual preferences and behaviors, enhancing customer satisfaction and loyalty.

Amplifying Brand Recognition

Augmented Reality shopping amplifies brand recognition by providing memorable and shareable experiences that leave a lasting impression on customers.

By incorporating AR into branding initiatives, companies can create immersive brand experiences that spark conversations, increase social media engagement, and strengthen brand loyalty, ultimately driving business growth and success.

Final Thoughts

In conclusion, Augmented Reality in business stands as a transformative force, offering a multitude of benefits across various aspects of operations. From revolutionizing training methods to boosting productivity levels, AR empowers businesses to thrive in an increasingly competitive environment.

By embracing AR technology, companies can unlock new opportunities for growth, innovation, and success, while delivering immersive and engaging experiences that resonate with customers and stakeholders alike.

As AR continues to evolve and integrate into everyday business practices, Uni will incorporate the best practices to promote business advancement and drive meaningful change for the clients. We’re to shape the future of commerce to your benefit.

Continue Reading