In the book “Built to Sell” John Warrillow explains how approaching your business as if you’re going to sell it will help you to maximize the value of it- regardless of whether you actually intend to sell the business.
Pretend for a moment that you were going to try and sell your business within the next quarter. What would you change?
It’s like getting divorced- all of a sudden you’re on a diet, in the gym, and doing all sorts of stuff that would have kept you from getting divorced.
If you were going to sell, it’s a safe bet that you would clean house:
- Updating systems
- Updating SOPs
- Reevaluating your employees, costs, customers
- And seeing what changes you could make to improve your value
All of this in an effort to appear more valuable… really to be more valuable to a buyer.
The thing is:
The opportunity to be more valuable was always there.Continue reading