Is your business fit to sell? Your first answer is OF COURSE, but on a closer look will a ready, willing and financially capable buyer agree? Here are some questions to ask yourself and depending on your answers may require your attention.
1. What percentage of the Key client relationships are between you the owner and the customers?
a. Most
b. Many
c. Some
d. Few
e. None
2. How many days off each year to you take off from the business (without taking calls)?
a. Zero
b. 1-5
c. 5-10
d. 11-15
e. 16-20
3. How many hours per week do you work?
a. Less than 20
b. 21-35
c. 36-40
d. 41-50
e. 51-60
4. Is your annual revenue growing over the last 3 years and steadily (back out one-time occurrences)?
a. 1-3% growth
b. 4-6% growth
c. 7-10% growth
d. 11-15% growth
e. 16-20% growth
When we step back and take a real hard look at our businesses and how WE impact the business we often see that the business is very dependent on the ME factor. Without ME it doesn’t go. To build a business that is FIT to SELL, we need to focus on developing a team, grooming talent, implementing specific process’s and procedures for the company and creating a reliable revenue stream. I’ll cover each of these items in more detail in the coming weeks.
Call Brent 480-250-6559 or via email brent@arraybsa.com, to get detailed assistance in building, streamlining and developing your business to the point of being FIT to SELL.
Brent is the Founder of BounceU a children’s entertainment franchise system, entrepreneur, Certified Public Accountant licensed in CA and Business Broker in the Phoenix area. He resides in Gilbert, Arizona with his wife and children. Brent is an avid cyclist and outdoor enthusiast.