Have you ever prepared to sell a house?
Painting the walls, increasing curb appeal with some bushes/flowers, decluttering to make it “showable”, upgrading appliances, etc. only to discover, once done, that you love your home and wonder why you didn’t do all this before?
A business owner came to me in January to get her business ready for sale. She didn’t know what she didn’t know and knew she had a ways to go to, in her words “turn this albatross into an asset”.
We went through her business with a fine-toothed comb. Bringing to light all the great, good, bad and downright ugly.
Then we decluttered (and increased profits), upgraded systems and processes, added passive products, created a retention plan and made several other tweaks and a few overhauls.
The path set, we stopped working together last month. Her goal was to keep things on track and have the business ready for sale in 2021.
She called yesterday.
Her new plan is to keep the business. She loves it. Sales are steadily increasing despite the pandemic, conversions are up, expenses are down, things are becoming more and more leveraged. Passive income is building.
It took the decision to sell the business (like a house) to get things in order (renovate) and let her see just how much she really loves what she does.
If you wanted to sell your business, what would need to change, be freshened up, etc. before that could happen?
Make a list and acting “as if” you wanted to sell, start knocking things off in order of importance.
Want to know where/how to start? Pick up this book here.