“How to Prepare Your Business For Sale” eBook is now available to order online at Barnes & Noble and Amazon.
Below is a short YouTube video that highlights the principle covered in the book.
This book is not as much a “How To” book as it is a “What To Do” book. I will accentuate many different areas you may want to work on as you guide your business toward success, and I will often highlight effective resources. There are some great “How To” books and experts to help you in any area you choose to work on; however, my goal is to help you determine which areas need improvement and encourage you to take action and find the resources necessary.
What motivates you the most? Is it the Carrot or the Stick (we are driven by either pleasure or pain)? Every business owner has their own answer to this question. Following is my Carrot and Stick list of reasons to follow the Double or Nothing™ guidelines found in this book:
• Business running more smoothly
• Can sell in a few years for double its current value
• Easy to find a buyer at premium price
• Retire with lots of cash in the owners pockets
• Live the dream of their choosing
• Business not saleable
• Business value has declined dramatically
• Hard to find buyers at even greatly discounted prices
• Close the doors and liquate
• No return for all the blood, sweat, and tears
• Nothing for the owners retirement
Understanding the Buyer’s Perspective
Throughout this book, I will emphasize what the buyer desires to obtain from a business. Most business owners are too close to their business to realistically assess it from someone else’s perspective. Try to honestly assess how well you can analyze the following with unbiased eyes:
• The appearance of your facilities
• Employee performance and value toward future growth
• The financial performance of your company
• The true Fair Market Value of the organization
• The ability of your management team to run the company without you
If you can truly analyze these items (and the many others I discuss in “How to Prepare Your Business For Sale”) from an outsiders perspective, you are a rare individual. Most of us are too close to our company to assess the business accurately and more so from the point of view of a potential buyer.