Share your thoughts with Patrick Bet-David by texting 310.340.1132 or click here my.community.com/patrickbetdavid

Hey Patrick, again a great video! Just as a constructive correction: EBITDA stands for Earning Before Interest, Taxes, Depreciation and Amortization. What you mentioned was slightly different. But as I said, this is again a great video for which I took notes and can apply to my business.

Just when I think I can't be more in awe at Pat's knowledge he impresses me once again.

Value personified. This content is priceless. Thank you Mr PBD

Valuetainment/PBD: May you do a video on 15 ways to increase your individual & personal value ? ... Thanks !

1mil subs is totally real for this channel , thought it's a long shot from the beginning but the way it grows and with more people becoming interested it is totally possible. Good work guys keep it up.

One of my favorite videos. Needed this right at this time! Thanks PBD.

You the man. I enjoy how you take control through your voice alone. You taught me lots of great skills. I’m broke at the moment, but rich in knowledge, I look forward to opening business in the future and add value to lives of others. Appreciate your channel.

Currently starting up my own business and came up on Valuetainment while doing research for tips and stuff I know I would never think about. Replaced all of my no brain Netflix shows for educational video's like this since they are of way more value than all of the school courses I've ever had. Well they did teach me some stuff I'm sure, but education based on experience from entrepreneurs who know what they are doing is in my opinion, the way to become a successful business owner. Thank you & keep it up. I'm sure you will inspire and help a lot of other people who haven't yet came upon this channel. Robin

PBD, you are the man. Have a safe trip and thanks for your amazing videos !

Thanks Pat for the great values you are always sharing. For this video, as a small startup, the 2 big points we were missing are the focus (we'll go through the book "built to sell" to learn more about it ) and putting in place systems in all areas of of our business. Thank you again.

Systems was a really good point. Very good advice that will def help

@VALUETAINMENT

7 жыл бұрын

+Tom McAteer 👍🏼💜

I always like your videos before I start watching it. because I already know it will be good!!

I look forward every Friday to hearing from him!

May God bless you Patrick. You have changed my life. bizness, fitness. and marriage. Blessings from Nigeria, Africa

So good pat. ... another book in the making. Very rich content . The art is 'when' let go. And rather than becoming the CEO , when other begin to call you that , it's definitely a sign . Keep em coming A+ valuetainment

Loved the video Patrick, really good information!

I always get best best business school in this channel despite being tooo far from you brother..I'm from Tanzania. Thank you so much!

Thanks Pat you're the best👏 keep them coming

Thanks Patrick, This video is spot on. I appreciate the enlightenment.

For detailed notes and links to resources mentioned in this video, visit patrickbetdavid.com/increase-the-value-of-your-business

@mashotoshaku

7 жыл бұрын

Valuetainment I wonder what you guys think is going to happen in the El Clasico

@Aemobileonline

7 жыл бұрын

Thanks Patrick, awesome content! For a new business/ small business there is a period of time where a company may find themselves riding the line between the two, (profit/value). Maybe they don't have much capital so they are still the business (independent contractors), but they are working to build up with the goal of being able to work on the business (be more of a ceo). would you agree with this or do you have a different opinion? Thanks again, Austin

@Ferelmakina

7 жыл бұрын

please don't say THE el clásico. Just el clásico or the clásico. Thanks...

@mashotoshaku

7 жыл бұрын

Fernando Romera lol thanks for the tip. Are you Barca or RMA?

Pat you are truly a great person

Thank you for showing us how to increase value.

That pillow catch was LEGIT!!

One of your best videos

Pat your info is so powerful. I just started my company 2 years ago. Im growing slowly but Im still trying to do almost everything by myself. THERES NO SYSTEM. I guess im still in the research and development stage. Thanks for the tips.

Love you Pat and Valuetainment

Whether you have an existing business or are considering starting a business, Michael Gerber in the book, The eMyth, suggests the only reason to build a business is to sell it. Sadly, many business owners wait too long to prepare the business and they do not have enough time to maximize the sale price of the business; some never plan to sell and others simply get caught off guard by an unexpected illness or unfortunate event. To help you not get caught off guard, it is best to start as soon as possible to prepare your business. It is never too early. Here are a few tips to help you increase the value of your business over the next 24 to 36 months. 1. Clean up your books. With "good" accountants, you are likely writing off much more than just the required expenses of the business. The value of the business is directly linked to the profitability of the business. If you have minimized your profitability to decrease your tax burden, you will not maximize your selling price. To maximize your selling price, 3-4 years before you want to sell, start optimizing your business to maximize your profit. This alone can greatly increase the what your business will be worth to a buyer. 2. Note abnormalities that will be adjusted for. When a professional values your business, they will look to "normalize" your books, called "recasting." During this process anything that was not normal will be removed and this will increase the profitability of your business. For example, if you owned a restaurant and had to replace the hood system. This cost would be removed because it is not "normal" and does not happen every year. Therefore, removing it would increase the profitability of your business. 3. Replace yourself and family members with staff. If you have family members working in the business, start to replace each one with non-related staff. When a buyer looks at your business, the business has less value and is riskier if there will be a mass exodus at the time of the purchase. Slowly, replace each family member with a staff member that would stay with the business after the purchase. 4. Secure key employees. You will also want to create an employee retention program to secure employees that are critical to operations. A new owner will feel more comfortable knowing the critical employees are incentivized to stay with the business after the purchase and this will make the business less risky and more valuable. 5. Design your business on systems. Every major task in your business should be documented and systematized. Although your current staff knows exactly what to do, for the buyer, having systems in place assures him or her that the business will run without you. Start by documenting the critical functions and then over time document all functions of the business. This task is time-consuming, but will make a huge difference in the sales price of your business. 6. Have a growth plan. Now is the time to ramp up your marketing, sharpen your sales team and make sure you have a solid plan for growth. Buyers pay more for growing flourishing businesses than ones that are stagnant. Now is the time to make your business look the best it's ever looked. By using these tips, you can drastically increase the value of your business and increase your sales price as well as sell the business faster.

very valuable !! thanks Pat

I mostly agree with you and I would also add one important point: Minimize human labor as much as possible and replace it with systems, machines and processes. For instance, instead of a secretary I use an information system and through automatization I need one less person.

Great video! So helpful and on point!

profit is short time u earn money fast,instant (sales man mentality) value is long time,delayed gratification (ceo mentality) to increase value 1technology (makes things more efficent) 2focus(focus on selling business increase intention on things that matter) 3systems(makes life easier everything is the same for each customer)like steps 1 2 3 4 5 4strategic partners( good partners can bring a new part of business u couldnt bring in) 5 recurring revenue(produces highest multiples so keep the stuff that sales and makes most) 6supporting cast(invest in peoe that care about value of busines such as give them cruise tickets)supports loyalty 7data(increases value of business ex contact info. 8EBITDA(Earning Before Income Taxation Depreciation Amorization)basically operation performance of company vs NEED (need is better than ebitda because if u have a need u wil earn more and then have a better system than a company just focusing on systems) 9 subscribership and distrubution (use customers to make more sales) 10 stay hands on(dont let go of business) and(know youre business to increase value) ■the more you focus on money youre FLAT■ ■the more u focus on value it GROWS EXPONENTIALLY■ great vid

squaaaad. Thanks Pat You never disappoint

Great content ! Thank You Pat ! ;)

glad I took a sick day from school to work on my business #notificationsquad

Thank for the tips

thanks pat Have a great flight

Another great video! Pressed the Liked button.

Thanks VT.

fantastic episode pat. shared

Thank you!

Right on time..

#1 sneaky secret I have used to grow the business that I mange, but don't own. I was sent to a conference by my business, and one of the seminars was by a consultant. I listened to what they had to say, then looked up the examples they provided and copied what was applicable to our business. No lie, our profits went up 398% in the year. The seminar was only named "Raise your profits 30-57% in one year" so they did pretty good.

Hi patric. please do a video on differences between men and women psychology in business, and more specifically how to be successful in an industry that is dominated mostly by the opposite sex. thank you so much for always bringing useful values to us

1 million subscribers! Whoo!

Hi Patrick, can you explain more about strategic partners? Who are strategic partners and how to get strategic partners? Thanks!

@yvonneruvinski8065

7 жыл бұрын

Strategic partnership is an arrangement between two companies or organizations to help each other or work together, to make it easier for each of them to achieve the thing they want to achieve: A way of breaking into the market would be to form a strategic partnership with a large player that is already successful in the sector.

@chorghayhamzah

7 жыл бұрын

Thanks Hava!

@yvonneruvinski8065

7 жыл бұрын

Your welcome. :)

@mohamedhosini2103

7 жыл бұрын

do you mean two companies that are in the same field or in a related field ?? such as a healthy food restaurant and a GYM for example....

@yvonneruvinski8065

7 жыл бұрын

Good question! Yes, both options are possible. One focuses on team work and the other on opposing strength. It's all about masterminding and synergising...

That lion grunt at the beginning makes me hungry. 😂😂

Gang gang back again

amazing..

Love the videos tho ! Subscribed.

thank you so much for inspiring me and my family . Jose&Ashley Newbritain,CT

the patrickbetdavid website looks awesome

you legend....

Could you do a follow up video going more into depth on topics like focus, systems, and strategic partners so you can create a better template for entrepreneurs? With the business I am going to start, strategic partners, focus, and systems are biggest hurdles.

Nice! Pat make some vídeos about pitch to investors, and business models! :)

Key points you made to invest in your partners and to give value.

I thinks This vedio is very important for me

Great 👍 video

hey pat! , I am Gabriel and I am 19 now. i have a great vision for my self. you are the best entrepreneur that I have ever known and i wish to be a kingmaker like you one day (more like soon ) ..i watched almost all your videos and I gain a hell lot of knowledge for my self by writing down all what you teach. So pat, can u recommend one or a few books for me written by you or others that u think can benefit a person like me . i just need two books -how entrepreneur like you think -how not to have the same mentality as most business owner thanks pat i sincerely appreciate your recommendations 🌷💪🔥

Notification Squad!

Sharp haircut Pat!

pat can you more about the points that come under the heading of system !

Notification Squad

hey pat can you make a video about stocks market like stocks 101 for entrepreneurs?? i want to know your vision and what do do in the stock market if you have 20 years again

thank you for your videos. i would like to know, does intellectual property would increase the company value as well?. since i m into natural food supplement industry and i have one patented ip of my ingredient and will plan to do more as we are active in doing research and development to prove scientifically in several health benefits including cancer and bone healing.

squad!

Hey! Pat! What is the video editing software you use??

what about food amd beverage company/factory ? does the same principle apply or there're other methods?

nice

I want to know about what is mean grade of concrete and that's use

Focus on value more than profits

Patrick, you lost me on the EBITDA vs. need, and the detailed notes said go to the video. can you please explain this?

I see many people take money out of business, I decided not to take money out for 1 year to grow my business.

music in the extro please ?

hey patrick i had a question mainly for my brother. My brother is the best sales person i have ever met in my life, he's 30 years old and working at frys in alpharetta which is kind of like a best buy or what used to be circuit city. within just a few months he became a manager of sales. Now here's the problem he has a felony from his past now he has a little boy and girl his life has done a complete 180. and i was curious if you think he would have a chance getting a job with a company like php or something in the financial industry after knowing his record?

@jamestoney3111

6 жыл бұрын

Jason Rodriguez your brother can expunge their conviction after a specific period of time

Nice jersey

Do you have a video on why to pull the money out of a company? Large corporations do it all the time.

You deff changed your barber. Go back to the last one 😂

notification squad

how or who to promote in t he company please make a video on it

Good vid, but so everyone knows, the "I" in "EBITDA" is "Interest" not "Income" ;-)

@VALUETAINMENT

7 жыл бұрын

+Derek Van Schaik lol. You're right. My words went faster than my mind.

Hi. Im Ravi from Malaysia. Im running a handmade furniture making business. Im still learning. My future plan is to become the best furniture maker in Malaysia, have a great makers team and create a furniture making school. My business is struggling right now. How should I grow it? I dont want to turn my furnitures into some retail products. I want it to be bespoke and one of a kind. Help me... Thank you

squad

I hope you were a Barcelona supporter.

Focus on getting focused with your business.

WAY #1: WATCH PATRICK BET-DAVID daily!!!

What happened to the Biz Doc????!!!

My profits are low, but value is rising constantly. I hope profits will follow very soon but I'm afraid I'm doing something wrong on some steps.

@eefdatalk

7 жыл бұрын

my profits are high but the value is lacking. Stick to the value! it will pay off longterm as long as you see growth! cheers :)

how do I increase my value if I'm going in real estate?

@joelow63

7 жыл бұрын

shubham sagar Im going to give u advice on each tip he gave us keep in mind this is my opinion about it 1have a way to contact customers online like build a website 2 focus dont be lazy 3 have a good website in place 4 maybe work with other people the sell realestate nearby so u can work together to get best deal for customer 5 sell/buy houses that sell the most 6spend time with partners buy them stuff etc. 7have data on each customer its valuable and if u use it it shows that u care example u ask how their kid is doing 8 good houses is better than the layout of youre website 9 have special deals for loyal customers 10 dont be lazy always try to improve good luck

@shubhamsagar631

7 жыл бұрын

Joseph Hemingway thanks Sir. I really appreciate your help and may I ask, I'm just about to start into this business,I literally have no funds with me and my dad has told me that he's not going to help in finical requirements. I would like to know your perspective on this state. I want to know what you have done if you were in my place? plus I'd like to know, do you think that it's a better idea to start a small business of some sort like a restaurant on my property would work and provide me a constant source of income? or should I just invest in just resendital properties?

@nickfleming3719

6 жыл бұрын

Know more than anyone about real estate. Be an expert on local geography, neighborhood qualities, cap rates, contracts, the closing process, where to find data, rehab costs, financing, rates of return, and entrance/exit strategies.

What the hell was in that pillow Pat? :D

I cant think of a name for my business, every name i do research on is taken....ugh help

in

I hope everyone has a great day! From a small KZreadr with almost 1K! :)

Hey guys! Why don't you collab with Gary Vaynerchuk? I think it would be a great collab and lot of things to learn!

@skysomthing3564

7 жыл бұрын

Ak Shay cause Gary couldn't keep his mouth shut to collab. Patrick and Gary are two different kinds of entrepreneurs. Both are awesome. Just different styles!

@akshayrocklover

7 жыл бұрын

Well, I will not disagree on that If somehow it's possible, I can only think about the amount of contents they would produce. 2 different stories, 2 different businesses/markets and as you say, different styles. More for us, eh?

@skysomthing3564

7 жыл бұрын

100% agree! Me saying Gary would talk to much I was just kidding:) It is funny tho to see his interviews and how much he does keep talking. Lol. But it would be very interesting to see them talk together and give brilliant content! Let's make it happen

@akshayrocklover

7 жыл бұрын

I know, right. LOL Well hopefully they see this comment. *fingers crossed* hehe ;)

👍👍👍🖒🖒🖒

try my best to be the first ... never works out

@viktorial8934

7 жыл бұрын

Dwight Neptune Same 😂

Because now l m looking for a construction job

Patrick , you look like a Gangsta Rapper , like the cousin of Drake

Anyone in music production business and would like to talk and share experience?

I'm late