Take a Vacation if you want to Increase the Value of your Business.
Let’s keep this one simple.
If your business is over dependent on you (the owner) it has a lower value to a potential buyer. Owner dependent businesses are hard to sell, and when they do sell they sell for less.
Why? Because if the business depends on you to produce the results, then how can the buyer be sure the results won’t go away when you do.
So, what should you do? Build a team! Create systems! Change your work schedule! All these and others are part of the process.
But I suggest you start by taking a vacation. Why?
- You need it. You’ve been working 18-hour days, 7 days a week, forever. You are not at your best and both you and your business will benefit from you decompressing a little.
- It will force you to take real steps to ensure that the work continues while you’re gone. These steps are the beginning of the process you’ll need to follow to lower the over-reliance on you long term.
Need more detail? Check out Janet Attard’s article here: Article
She highlights some very practical steps you can take as a small business owner to make that vacation work.
Your business needs it and so do you.
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