Does your management style cause your business to have less value? If your small business is built around you and only you, when it comes time to sell, your business will be less valuable than you might think. Why? Because the new owner is mostl likely not going to be you! How can any new owner find a person just like you or for that matter, be just like you.
Most small businesses start because of a strong personality or idea that will work. The key to their success over time is to move from the entrepreneurial stage to the management stage of running a business.
When you do this, your chances for selling at a better price.
Consider this,,,when an operating Franchise sells... very few people are concerned about the name of the owner! They are buying the brand and the performance of the company. They are relying on the systems that are in place that have produced the profits.
Most small businesses start because of a strong personality or idea that will work. The key to their success over time is to move from the entrepreneurial stage to the management stage of running a business.
When you do this, your chances for selling at a better price.
Consider this,,,when an operating Franchise sells... very few people are concerned about the name of the owner! They are buying the brand and the performance of the company. They are relying on the systems that are in place that have produced the profits.