This is the second part of the topic “Why Should I Sell My Business?” In this episode, we will give you practical tips on how to position your business to be sellable.

1. Have stable systems that work with or without you

          - Financial

          - Marketing

          - Lead generation

          - Sales

          - Operations/Fulfillment

          - Administration

2. Test the above systems regularly

          - A simple way to do this is to go on vacation and NOT work

                 - Create an emergency use capability ONLY

                 - Do a long weekend, followed by a week, followed by two weeks

                 - When you come back, AAR what happened (episode 100, we do this on ourselves)

3. Have recurring revenue

          - Often your business is valued at about 3 to 4 times the value of “guaranteed” revenue.

4. Build a client database and keep it warm

5. Hire a business broker to give you an evaluation.

RESOURCES

========================

Episode 142- Why Should I Sell My Business Pt. 1 - https://youtu.be/vlK2sz8PUVo

Episode 144-  Why Should I Sell My Business Pt. 3 - https://youtu.be/hAGN1PPtAk0

Looking for bite-size nuggets of learning for leaders and high-achievers? Go to 

https://yoogozi.com/

Learn more about our course and community, and our White Glove Service:

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Need a website you can be proud of? Let us help you. 

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Looking for a business mentor that will surely propel you to success? Check out Larry's site.

https://larrybroughton.me

Learn more about Larry Broughton

========================

Website: https://larrybroughton.me

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Learn more about Dave Braun

========================

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#HireMyVA

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#SellingYourBusiness

Subscribe to HireMyVA 2.0 Team & Business Building Podcast on Soundwise

Subscribe to HireMyVA 2.0 Team & Business Building Podcast on Soundwise

Do you ever think of selling your business? In this episode, we'll discuss the typical WHYs that drive business owners and entrepreneurs to sell their companies.

Here are some reasons why: 

- Someday you may not want to do your business anymore, and thus you’ll avoid the mistake so many make, letting it die slowly and not actually taking advantage of all the assets you’ve built.

- Making it sellable means you’ll be creating it so that it can work largely without you.

- To get rewarded for all of your hard effort and investment.

- To force you to get proper financial systems in place.

- To maximize the value of what you’re delivering so that you can help your clients even more.

RESOURCES

========================

Episode 143 - Why Should I Sell My Business Pt. 2 - https://youtu.be/gWGKIW0X_hY

Episode 144- Why Should I Sell My Business Pt. 3 - https://youtu.be/hAGN1PPtAk0

Looking for bite-size nuggets of learning for leaders and high-achievers? Go to 

https://yoogozi.com/

Learn more about our course and community, and our White Glove Service:

https://hiremyva.com

Need a website you can be proud of? Let us help you. 

https://prowebsitecreators.com

Looking for a business mentor that will surely propel you to success? Check out Larry's site.

https://larrybroughton.me

Learn more about Larry Broughton

========================

Website: https://larrybroughton.me

Instagram: https://bit.ly/3vXPEoT

LinkedIn: https://bit.ly/3pIXjq8

Facebook: https://bit.ly/3pKVxEU

Learn more about Dave Braun

========================

Website: https://prowebsitecreators.com/about

LinkedIn: https://bit.ly/3EpvoQe

#HireMyVA

#VirtualAssistant

#SellingYourBusiness

Subscribe to HireMyVA 2.0 Team & Business Building Podcast on Soundwise

Subscribe to HireMyVA 2.0 Team & Business Building Podcast on Soundwise

It is common to underestimate how crucial strong team cohesion is for improved performance. The finest outcomes, though, are probably not being produced by your team if it lacks cohesion.

Most likely, the cause of ongoing disputes and tensions among team members, which have a negative impact on overall group performance, is a lack of cohesiveness. By strengthening team cohesion, these problems can be avoided.

Teams that work well together communicate effectively, support one another, work well together, and resolve disputes quickly.

So here are a few ways your team can do this: 

- Have fun together as a team on occasion

- Focus on the sustainability of our efforts, meaning how long will it last and will it be able to go on without me?

- Invest in professional and personal development of team members

- Empower our team to become leaders

- Let them share in the decision making process

RESOURCES

========================

Looking for bite-size nuggets of learning for leaders and high-achievers? Go to 

https://yoogozi.com/

Learn more about our course and community, and our White Glove Service:

https://hiremyva.com

Need a website you can be proud of? Let us help you. 

https://prowebsitecreators.com

Looking for a business mentor that will surely propel you to success? Check out Larry's site.

https://larrybroughton.me

Learn more about Larry Broughton

========================

Website: https://larrybroughton.me

Instagram: https://bit.ly/3vXPEoT

LinkedIn: https://bit.ly/3pIXjq8

Facebook: https://bit.ly/3pKVxEU

Learn more about Dave Braun

========================

Website: https://prowebsitecreators.com/about

LinkedIn: https://bit.ly/3EpvoQe

#HireMyVA

#VirtualAssistant

#Teamcohesiveness

Every employee in an organization must share the same commitment to the organization's mission for it to succeed as a whole. To ensure that steps are taken in that regard, they must collaborate as a group. 

Organizational charts can be used to show how each person in the organization has a clear line of authority. It lays out a plan for how the task is to be done and the procedure needed to make sure that this information is distributed to the appropriate people throughout the company.

Here are some benefits: 

It forces you to think through the structure of what you want to build.

It will help you figure out whom to hire next.

Doing it right will cause you to put a name next to the function, even if it’s your name in every box.

It will clarify who’s responsible for a portion of the “big picture”.

It can show you imbalances in the organization.

RESOURCES

========================

Looking for bite-size nuggets of learning for leaders and high-achievers? Go to 

https://yoogozi.com/

Learn more about our course and community, and our White Glove Service:

https://hiremyva.com

Need a website you can be proud of? Let us help you. 

https://prowebsitecreators.com

Looking for a business mentor that will surely propel you to success? Check out Larry's site.

https://larrybroughton.me

Learn more about Larry Broughton

========================

Website: https://larrybroughton.me

Instagram: https://bit.ly/3vXPEoT

LinkedIn: https://bit.ly/3pIXjq8

Facebook: https://bit.ly/3pKVxEU

Learn more about Dave Braun

========================

Website: https://prowebsitecreators.com/about

LinkedIn: https://bit.ly/3EpvoQe

#HireMyVA

#VirtualAssistant

#Organizational charts

Subscribe to HireMyVA 2.0 Team & Business Building Podcast on Soundwise

Subscribe to HireMyVA 2.0 Team & Business Building Podcast on Soundwise