Most small and medium-sized businesses, especially the once up to 5M USD revenue (but many times even 10M USD revenue), are highly dependent on the business owner.
The business owner is not an owner; he/she is an operator. The owner manages clients, employees and runs the business day to day. That business doesn't have much value or at least doesn't have the most value it could.
If you need or want to sell your company, you will most likely receive most offers with only earn-outs and very little upfront and guaranteed. If you don't want to sell the business now, you have time to create a business that can thrive without you.
To become a business owner, spend your time (or most of your time) on joint ventures, partnerships, mergers, and acquisitions.
And look at your business as a business owner based on the weekly/monthly reports. Everything else is working in your business.
Actually, the easiest way to stop working in your business is to merge or bolt-on other companies and let the owner or the management team run your business day to day.
You can contact us. We can help you find the right fit and get you out of day-to-day management and maximize the value of your shares in your business.
3 to thrive:
• Make your business independent from you • Build systems, procedures, and processes so that business can be managed without you or better; merge or bolt-on other businesses and let the owner or the management team run your business day to day
• Manage your business as an owner and not an operator
Do you want to discuss anything? Click on the button and schedule a call today!
Krystof Business Investor |