Once you are inconsequential in your business, you have successfully taken one of the key steps to building value in your business. Building value means you'll be able to optimize the sale price when the time comes to exit.
This article speaks to transitioning your business to run without you. When the business can succeed without you, the more value you will receive when it is time to sell. Read more here:
When the owner is not ‘the business’, but has a great team and strong business drivers, the company will have greater value to a buyer.
In our business we help owners build value in their company so when the time comes to sell, they get maximum value. Our approach is the Value Enhancement Framework with three key steps.
- Discovery – gives you a reality check on the value of your business and personal net worth.
- Strengthen – a plan for business improvements and de-risking both business-wise and personal.
- Your Plan, Your Way – Find out what choices you have for what’s next in life or business.
Understanding where you are at business-wise gives you a reality check: what company's value is, what's working and what's not. We call this pre-due diligence. Learn why this is important here.