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

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Learn more about Larry Broughton

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Learn more about Dave Braun

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