Ever feel like you’re playing a risky game with your business’s value? An advisor may have told you to focus solely on growing your revenue, but have you ever considered the overlooked risks that could instantly wipe out all your hard-earned value? It’s frustrating to pour your heart and soul into your business only to realize that it might not be as secure as you thought.
Uncovering Overlooked Risks in Growing Your Business’s Value
In this episode of Napkin Numbers, Scott Lundt & Rahsaan Freeman uncover those hidden risks and show proactive steps you can take to safeguard your business’s value.
You will discover how to shield your business from unexpected events by effectively mitigating risks, learn the essential strategies for preparing your business for a successful sale, explore the importance of diversification in maximizing your business’s potential, leverage insurance for robust protection of your business, and navigate the complexities of business planning and consulting.
You won’t want to miss these invaluable lessons you need to know to protect your business!
Napkin Numbers Talking Points
[0:31] The Reality of Selling a Business
- Rahsaan explains the sobering statistics that three out of four businesses fail to sell when put on the market, highlighting the need for strategic planning and protecting business value.
[1:01] Risks and Business Value
- Scott Lundt discusses the principle of higher risk leading to less value in a business, emphasizing the importance of mitigating risks to safeguard business value.
[3:32] Turning Challenges into Opportunities
- Understanding and mitigating risks are crucial for safeguarding business value. The upcoming episode will explore how a business consultant like Steve Kohnke can help turn these challenges into opportunities.
- Listeners are encouraged to reach out for further discussion.
If you want to sell a business, please use our complimentary business evaluation calculator to determine its value.