Your best option may be to sell your business. You have a figure in mind for what you’d like to achieve, but will you be able to achieve that price?
Just think about it. You have been working IN your business for many years. But, have you built the equity in your business you thought you would? Will prospects see the value in it?
You’ve heard all this noise before… about building the equity in your business, about building the sales and marketing pipeline and about systemising, so that you could relax and take time off with your family or put the business in order for sale- you know, so that you can sell it for the price you deserve. You’ve read it, you may have heard it, but did you REALLY pay attention to it?
What story do you want to write about yourself? What legacy do you want to leave your family? Are you planning your next move- the smart way, the most profitable way? You want to go out on your terms, for a price you deserve so YOU can benefit for years to come.
Systemise and Create a System For Everything You Do
A business which relies on the owner to function and survive is not a wealth building machine… it is a trap.
A system can be defined as a repeatable process that produces a profit.
Once you have a repeatable process in place you can expand your business activity and your wealth. The 3 areas you must systemize are:
1. Sales and Marketing
2. Supply and Production of Products or Services
3. Administration and Accounts
You must create a repeatable system that manages the operations of each of these 3 areas.