Can you document your results?

Once you understand The Simple Approach that "my results buy my business" you must ask three questions:

1. Are your results desirable? 2. Can a buyer duplicate your results? 3. Can you document your results?

Your buyer will require documentation to verify your results.

In order to document your results, you need to:

Keep clean records.

Sure, our tax records look bad, but those aren’t our real results.

An older couple who owned a small bar invited me to come talk to them about selling their business. We walked to their basement offices where I stopped in the doorway. Their desks were covered in stacks of cash.  Mostly $1’s and $5’s, with the piles so high I worried throughout our conversation about a collapse. 

With a grin the couple described how they had “done pretty well” even though their tax returns showed they’d never made a dollar (wink-wink). “Sure, our tax returns look bad, but those aren’t our real results.” 

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