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Have you ever thought to yourself, why can’t I have a business that is set up to sell for top dollar and then keep it and reap the benefits of having it organised, autonomous, highly profitable and successful?
This is what we call ‘having your cake and eating it too’
And why shouldn’t you?
Have you ever;
- done your house up to sell it and when it was ready to go on the market, thought to yourself “this is the best my house has ever looked and it looks pretty dam good”
- detailed your car ready to sell, put the photos up on car sales.com and thought “wow is that my car”
- dated someone ( back when you were young and single) and thought they were OK, looked around to get someone better and in 6 months time bumped into that old flame and said to yourself “why did I break up with her?”
The same applies with a business that is profitable!
So many business consultants out there tell you to build your business up to sell it but the reality is, unless your business is one in a million you will be lucky to get more than one or two years worth of income for it.
You may have put 5, 10 or 20 years into a business only to let it go for just 2…. This never make sense to me.
Instead, I prefer the option to do the business up ready to sell with;
- a business strategy
- marketing strategy
- systems documented and utilised
- a team of people who care more about the business than you do
- a business you can come and go in as you please
- reliable cash flow that is consistent and abundant
When you have a business that functions like this, why on earth would you sell it?
Yes you can bring in a junior partner, introduce a succession plan, train up the kids to run it, continue to work in the business part time but at the end of the day, if the business is functioning in a way that if it was sold, you would maximise your return on the sale, then you should be able to keep the business and continue to generate a very sound income for yourself, year on year.
Have your cake and eat it too!
So my point is, build your business up as soon as you can, so that it is in its best shape, to get you top dollar.
Then keep the business and continue to grow it, maximising your profit every year.
Following my lead, set up every aspect of what is required to maximise the value of your business so that it is worth more later than it is today and enjoy the fruits of your hard work, every day between now and when you do actually want to sell. This could be the next 3, 5, 10 or longer years time…
Food for thought…
If you would you like to know how to develop your business, have all the money you could want, to drift in and out of your business as you like, to take holidays as often as you like and to have all the time in the world to do what you want, but you don’t know where to start, well we can help!
At ABC Business Improvement we have or are assisting builders, tradesmen, retailers, restaurants, wholesalers, manufacturers, mechanics, professional service providers like accountants, lawyers, pharmacists, dentists, importers/ exporters and we can assist you too!
At ABC Business Improvement we will organise a meeting where you will;
– Uncover the challenges you are facing
– Define a path to overcome them
– Create a first step plan to move forward
– Gain a sense of excitement and relief, knowing where you are going
Be one of the first 5 business owners to contact me this week and we will organise a (have your cake and eat it) session today!
Life rewards those who take action!