Building a Sellable Business Series

In the next 37 episodes, we will cover all the aspects that make a business more valuable to potential buyers when it comes time to sell it. To start the series, click here.

March 22, 2022

The Business Sale Process: Through the Eyes of a Buyer

The business sale process is much more complex than simply deciding to sell, finding a buyer, and closing the deal. Oftentimes, buyers will spend months or even years researching before making the decision to buy a particular business. But what do they see when they look at your business? What can you do to make it as attractive as possible to prospective buyers? Understanding how you and your business are perceived by a potential buyer could help you prepare for a more efficient exit. Over the next few blogs, we’re going to explore the business sale process through the eyes of a buyer.

March 1, 2022

Mapping Your Business’ Process of Selling – Decentralizing

If you’re preparing to sell your business, one of the most important things you can do is remove yourself from it. Although this may feel wrong to many business owners, decentralization is the only way to make your company transferable and scalable. Being the primary “salesperson” in your business was fine in the beginning. But now that it’s grown, you must allow your team to take over the daily operations so you can work on increasing its value. But how do you ensure your team follows your exact sales process when there may be steps, you’re performing at a subconscious level? Join me as I explore how mapping your sales process can help you decentralize yourself from your business.

November 15, 2021

The Legalities of Selling a Business, with Mital Patel

Selling your business is a big deal. There are so many things you have to do to prepare it for a transfer that it can easily become overwhelming. Beyond simply finding a buyer and making a transaction, there are several contracts and agreements that need to be drawn up. Additionally, you must determine the type of sale, what will be included in the sale, and what your role will be once the sale has taken place. To help gain a better understanding of the legalities of selling a business, I sat down with Mital Patel, founder and managing partner of TriAmicus Law, PLLC. As with all entries in this series, I really encourage you to listen to the podcast to get the full extent of our discussion.

July 19, 2021

How Much Does it Cost to Hire a Business Advisor

Oftentimes, as business owners, we fight through trial and error to build our businesses. Although it is possible to build a successful business on your own, having an experienced business advisor can help you get your business where you want it to be in a more efficient manner. I like to think of it in terms of climbers conquering Mt. Everest. The climbers have the vision, experience, and skill, but they still benefit from having a sherpa to guide them along the best course. Of course, this comes with a price. That’s why today’s entry is going to answer the question, what does it cost to hire a business advisor?

December 14, 2020

What Is The Value Gap?

In my last entry, I laid the groundwork for today’s topic. Over the last several weeks, we’ve covered the wealth gap, extensively. But today, we’re turning the corner just a little bit. With that said, today’s article is all about the value gap. What is it? What does it mean? and How does it impact your business?

June 13, 2018

SOLD! Now What to Do with The Money After the Sale of Your Business? – Post #37

CONGRATULATIONS, friend! You just sold your business!!! You’ve realized success! Assuming that the statistics from the Exit Planning Institute are true, and 80% of businesses below 50 million dollars in revenue never sell, then you’ve just joined an elite minority of small business owners. Way to go! You’ve just done something that few people have ever done. But what do you do now? If you’ve just received a financial windfall, what do you do with the money after the sale of your business?