You’re Building a Business — But Can You Sell It?
Why it’s Good: A successful exit is about having the right mindset – this article can help you get it.
What it is: A quick read with some great advice about some simple keys to business sell-ability.
You run your own business. Does this capture the experience?
Sure, after years of struggle and plenty of doubts, your business is finally taking off. Customers are reaching out to you. Recruiting employees is easier. You’ve moved out of your basement/the free incubator/that cheap warehouse space and into real business space. To top it all off, you’re finally paying yourself. So you have a business, a real business. Even your parents admitted it.
But despite this success, you’re not building a business that someone wants to buy. You’re not even trying. Why?
Because most entrepreneurs struggle through hard times working to keep their customers happy and then struggle through good times working to keep their employees happy. They deal with vendors and lenders that may or may not care about their business–depending on the day of the week — and face constant battles from competition, regulation and plain old bad luck. No wonder most business owners just grind it out for years making a decent — sometimes generous — living. Then, exhausted, they retire and shut their doors.
But they’re leaving money on the table. A lot.
You dream of selling your business — that dream is achievable, if you start . . . Read article here.