Most business entrepreneurs would rather be in
drivers seat than to be driven. Yet, surprisingly enough, many business owners put little effort into planning to sell to their biggest and ultimate customer... person (or company) that buys their business. I've seen genuine hardworking people struggle and persevere to build up a successful business, only to watch them fail to reap their deserved rewards when they come to cash-out. They don't know what to do, or where to go. They lack required skills to present their business effectively to potential buyers. The end result; they get stressed-out and bitterly disappointed with outcome. Don't fall into same trap. The day will come when you want to (or have to) sell your business and cash-out. That might not be in near future, but now is time to start planning for your ultimate sale.
Self-made millionaire entrepreneur Mal Emery, has bought, developed and sold 14 businesses. Mal had this to say:
"Before I even consider buying a business, I must be able to visualise or articulate a clear and concise picture of what that business will look like when I sell out.
You see, I design all my businesses to sell. I call buyer of my business, my ultimate customer... one who puts me out of business."
