Allen Harris, founder and CEO of Berkshire Money Management and 10,001 Hours, explains Value Acceleration, a business strategy focused on defending and improving owner’s income and company value.
10,001 Hours is part of a cottage industry called “Value Acceleration”. Value Acceleration, in its simplest definition, is a business strategy focused on defending and improving owner’s income and company value. The niche of the niche we focus on are business owners who are looking to retire, or “exit” in the next 2-5 years.
When I first went through the process, over a decade ago, it used to be called “strategic planning”, so I’ll probably reference it that way a couple times just out of habit. Like I said, I started the process about a decade ago, and I have another 20-25 years before I retire, not 2-5 years, so you definitely don’t need to be near retirement to see the value in strategic planning.
Strategic planning, or, Value Acceleration if you prefer, leads to sellability. Yes, making your company worth more means someone has to pay you more to buy it, yet it is still more sellable. And the key to making your company sellable is to make it transferable. More on transferability later, but keep that in mind. You want to sell a job, not a glorified business – you can’t transfer a job.