Building a Sellable

Eventually, every entrepreneur realizes they cannot work in their business forever. For most entrepreneurs, this is the time they begin thinking of exit. Here are ten things you should think about before that faithful day. Standardization The first thing I will like to mention is standardizing services or products. In the onset of a business, an entrepreneur figures things out as he/she develops. As time elapses, the entrepreneur figures out what works and settles into a way of doing business. This usually happens at the $100,000 mark. The problem with this is the knowledge is embedded in the head of the owner. The owner often fails to communicate this knowledge to new hires. There is kind of an "unspoken standard" or "way of doing things". People learn "the unspoken way" haphazardly. By not standardizing, the owner's loses 50% of the value of the business when it is time to sell. Nobody wants to buy a business when all the knowledge is in the owners' head and if they do there are usually lots of contingencies tied to the deal. allbet allbet allbet allbet allbet allbet allbet allbet allbet allbet allbet allbet allbet allbet allbet allbet allbet allbet allbet allbet allbet allbet allbet allbet allbet allbet allbet allbet allbet allbet