See Your Business The Way A Buyer Will
Few business owners are prepared to maximize their business's value when it's time to sell or transition. In most cases it's because they just don't know how. Don't wait until something unforeseen happens and you're forced to exit your business; start planning now for your eventual exit. Look at your business the way a buyer will look at your business. Is it irresistible or damaged? Problematic or attractive? You can control the perception, but only if you set your mind to it. Seeing your business the way a buyer does is how the pros do it. This perspective will help you maximize value in good times or bad, reduce your tax bill, and even shorten the due diligence and documentation process.
In Jim Cumbee's Home Run, a Pro's Guide to Selling Your Business, you'll learn how a buyer will look at your business based on what Cumbee calls the Seven Principles of Irresistibility: -DIVERSE CUSTOMER BASE -SUSTAINABLE REVENUE -RELIABLE FINANCIAL STATEMENTS -DEMONSTRABLE SCALABILITY -UNIQUE MARKET POSITION -OWNER INDEPENDENCE -BELIEVABLE GROWTH STORY
Follow these seven principles and your business will be irresistible to buyers. And that's called hitting a home run!