As a small business owner, we understand that you’ve dedicated countless hours to building your company, and when it’s time to consider what comes next, chances are you will want to exit your company on your terms. This episode of Napkin Numbers delves into the three ways to make your business more appealing when preparing to sell.
3 Ways To Make Your Business More Appealing
Drawing from our combined 50+ years of experience, we share some real-world exit strategies that could pave the way for your next move, ensuring a seamless transition and reaping the maximum benefits of your hard work.
Napkin Numbers Talking Points
[02:29] #1 Automating Processes
- If your processes are only inside your head, that can translate to risk for a new owner.
- It is crucial to automate to reduce uncertainty and increase your business’s value in the eyes of potential buyers.
[02:08] #2 Strong Second in Command
- Having a strong second-in-command – not only shares the burden of managing the sales process but also reassures potential buyers about the continuity and stability of the business.
[03:01] #3 Keep things consistent
- Keeping things stable and predictable prevents employee turnover and supports critical contracts, facilitating a smooth transition.
To begin the sales process, you need to discover the value of your business. Get your complimentary business evaluation using Freeman Lundt’s Business Evaluation Calculator. Let Freeman Lundt’s experts guide you through the process and start by taking the first step with this complimentary evaluation.
