I wanted to share with you one of the most important business tips. It blows my mind that this is something almost no one focuses on, and has dramatic impact to your success. Here it is:
***Figure out the plan of how you are going to sell your business.
For those of you just forming your companies, this should be one of the first things you do. Even if you plan on never selling, there are a number of benefits for doing this:
1) It helps you make smarter strategic decisions, because you start to look at your business objectively instead of as a worker inside the business.
2) It ensures you capture the value you create. Too many people work for years to build a business, only to be unable to sell it upon retirement, and they lose all that value they created.
Have you thought about how you would sell your business? Do you know what accounting systems you need in place to make that possible? Make sure you talk to your accountant to ensure you are set up for success!
Let me know your thoughts. If you like this tip, send me an email! Talk to you soon.