BE A SELL-OUT
WHO DOESN’T WANT THAT? RIGHT!
No matter what stage your business is in, we want you to have it ready to sell.
Even if you have no plans to sell or exit your business, building and running it with this mindset will automatically give you a huge advantage.
You will do a better job of setting up systems and processes and documenting everything. You will naturally become more organized and efficient.
Thinking about your exit strategy as you go will help you build value in your company.
Part of this falls under the school of thought which Dan Sullivan of Strategic Coach® teaches which is a concept known as Running a Self-Managing Business (Buy Book Here).
Who doesn’t want that? Right!
Most of us go into business for ourselves for the freedom it will offer us. (No more missed dance recitals or limited vacation time, etc.)
The irony is that we end up working twice as hard and twice as long because the work day never ends.
There is a line about the entrepreneur is the only person who will work 80 hours a week to avoid working a 40 hour job.
The other part is that thinking ahead about the sale of your business will lead you to making better decisions and running your business in a world-class manner.
Doing these things will help you command a premium price if you actually decide to sell your business.
You will always be thinking, “What can I do to increase the value of my company?”.
With this frame of mind, your results will far surpass what other people would accomplish.