What are you doing to ensure the maximum value in your business?

What are you doing to ensure the maximum value in your business?

As more and more boomers prepare to sell their businesses, they should be asking the following questions: Who is going to buy my business? What have I done to make my business attractive to potential buyers? How will I get the money I need out of my greatest investment?

If you have these questions and are wondering what to do, I offer the following advice.

It is important to understand that if you want to maximize your business value, it will take some time to set things up. Preparing a business for sale should not be something that you decide to do after you put up the for sale sign. A well-made exit plan will take anywhere from 2-5 years to develop and execute.

A good start would be to complete an initial evaluation of your business by comparing it to the best in-class companies of its kind. From there you can develop a road map which will allow you to create a more manageable process to fix the things that need fixing. Continually using this process is a great way to ensure you are always creating value within your organization.

It is easy to get lost in the myriad of business best practices floating around. I understand what it’s like to be working in the business when you should be working on the business as I have been there before. Feel free to contact us with any questions you may have on this or any other small business topic. We are here to help.