Well at least be ready to SELL your Business no matter what stage your are at.
Be ready to sell your Business even if you NEVER intend to sell.
Here’s my Logic:
If a Business is being looked at by a prospective Buyer and the Seller wishes to sell for as much as possible the Business needs to be ATTRACTIVE. If the Business is attractive then the Business is most likely CONSISTENT. If the Business is consistent it is most likely GROWING. If the Business is Growing, Consistent and Attractive then it is most likely PROFITABLE.
If the Business is Growing, Consistent, Attractive and Profitable then you have a very SUCCESSFUL Business and you are most likely a HAPPY Entrepreneur.
See my Logic?
So what should you be doing in your Business so that it is all these:
- Ensure your Financial Records are UP-TO-DATE and clean.
- Try to EVEN out your Sales to get some consistency.
- Get Sales consistency by executing consistent MARKETING.
- Keep costs RELATIVE to the income, preferably the percentage difference should be INCREASING.
- Manage your CASH FLOW so there is money to Invest.
If you keep your Business in TIP TOP shape at all times you will not only be HAPPY but just in case that Buyer does come along or you CHOOSE to Sell, you will always be in a perfect position to MAXIMISE your chances of getting the big bucks.