There is a direct correlation between the time the owners spend in the business, especially during their daily work, and the value of the business and its investor attractiveness. As this period decreases, the value and attractiveness of the business increase.

A business owner who never goes on holiday : Can you believe that there are bosses who are proud of this? Holidays are ideal opportunities for looking at the business and the sector from the outside and developing new ideas.

Founders managing customer relations : Naturally, the founders carry out the sales function during the first years of business. However, as the business approaches maturity, the founders' withdrawal from the customer relations function will increase the business value; thus, the business will be more valuable to the investor.

Signing of all payments by the boss : Although financial control and responsibility are important, business owners have to delegate the cash flow to the professional staff thanks to the audit functions they have established.

Processes being known only by the company owner : Only the businesses that are managed by systems independent of individuals and that are institutionalized can stand on their own feet, and they can become an attractive business for the investor.

Shareholders spending hours on non-strategic issues : Another important issue is the time management of the business owner. The next step for a founder should be focusing on strategies, lobbying, growth, and global expansion rather than daily details. Otherwise, tactical management may fall under the strategic wave experienced in the sector.

A boss who wants to control all the details : The details are important and essential; however, being overwhelmed with details will slow down the business and make it dependent on the shareholder.

Founding managers who do not go on sick leave : Making the employees feel that the business is under the control of the shareholders all the time will discourage the employees to take initiative, and it creates a business that is devoid of risk appetite and far from innovation.

Managers who hire smart people but do not delegate : It is one of the most common mistakes. It is important to attract high potential employees to the business. However, if these people are not given authority and the right to make mistakes, the business will turn into a race car with the handbrake on.

To conclude, company owners should always keep in mind that “the management style of the business owner should be to work 'over' the company, not 'inside' it". Thus, systems are established, the business stands on its own feet. Thus, shareholders have a business that is attractive to the investor.

Gökhan Acar / CEO

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