How to Build a Business that Survives Your Absence
As you get ready to sell your business, the first thing you need to do is hire a reliable business broker La Habra Heights. The objective is to leverage on the expertise of the broker so that you don’t make mistakes that may keep you from closing. Our team at So-Cal Business Brokers has the expertise you need to find the right buyer, help you close fast and also ensure your business is ready for sale.
The first thing we recommend you do in order to sell fast is to transform your business into a business that can survive your absence. This is because buyers are only interested in business that can thrive in your absence. Our experienced business brokers La Habra Heights will help with this. Here are some of the things we recommend you do.
Identify your business’ dependencies
To build a strong business you have first to identify all the ways the business depends on you for decisions or action. Some important questions you should ask are:
- How do you spend your workday?
- What tasks do you uniquely qualify to do?
- Do you cling to other tasks because you have always enjoyed doing them?
- Do you field phone calls from staff while on vacation, on weekends and during family meals?
If you answered yes to any of these questions, then your business is over dependent on you. The first thing we do when you hire us is to take you out of the equation. Buyers are not interested in businesses that cannot thrive in the absence of the owner. They want to invest in a business that has the right team in place and one that can run smoothly under new management.
Now that you have identified the dependencies of your business the next thing you need to do is to take action. To mitigate the risk of your business not thriving in your absence, you need to delegate your tasks. Our business broker La Habra Heights can help hire or choose the best management team to take over your responsibilities. We will also work with you as you document your business’ processes and systems. An organized structure and standardized documented process is the key to building a business that survives your absence.
At So-Cal Business Brokers we are here to make sure you sell fast, to the right buyer, for the right price and that the business thrives under new management. Give us a call today to schedule a free consultation with our experienced business brokers La Habra Heights.