Is Your Business You-Proof?
Whether you’re planning to sell your company sometime soon or sometime in the future; now is the time to ensure that your business isn’t all about you.
From the latest Value Builder Score* research involving 2,300 companies from around the globe, here are two key factors that are linked to the probability of getting an offer for your business when it’s time to sell:
You’re almost twice as likely to get an offer if your business can survive the “hit-by-a-bus” test. If you were out of action for three months and unable to work, would your business keep running smoothly? The more your staff and customers need you, the less valuable your company will be to a potential acquirer. One good way to start making your business more independent is to begin spending less time at the office. Start by not working evenings or weekends, and don’t reply if employees call.
Once they get the picture, the best ones will start making more decisions independently. The shift will also expose your weakest employees, the ones that need training or that need to find another job. As for you, it might come as a shock to find out how much your business has become such an essential part of you; but if you’re going