At first thought, it may seem strange and a bit negative to tell someone to think about how their business is going to end before starting it. But, in practice, this is a very powerful technique to ensure that your business becomes all that it can be and accomplishes the goals that will really matter to you in the end.
This practice of “beginning with the end in mind” will help you make important decisions along the way that will impact how much your business is worth at the end and the achievement of your goals after exiting the business. [the kind of lifestyle you want to live in retirement].
In a recent article I read on Inc.com, the writer Arthur Zwilling presents eight excellent strategies to work on while growing your business to help you maximize its value when selling both on a financial and personal level.
To read the article, click here.
To help address the challenge of preparing business owners for a successful business transition, B2B CFO® has created an educational program called The Business Sale Solution™. The seminar demystifies a business transition and arms business owners with practical information such as: how to understand the buyers and their motivating factors; calculating EBITDA and multipliers; handling the due diligence process; and creating successful transition teams. To learn more about this educational resource, watch the TBSS Video.
If you would like personalized help with growing or exiting your business, I welcome you to contact me for a no-cost consultation at firstname.lastname@example.org or (972) 689-1981.