This Business News Story Was Uncovered By Us From: http://www.youngupstarts.com/2019/08/12/it-is-vital-to-build-your-business-with-its-end-in-mind/
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by Justin A. Goodbread, CFP®, CEPA®, CVGA®, owner of FinanciallySimple.com, and author of “The Ultimate Sale: A Financially Simple Guide to Selling a Business for Maximum Profit“
So you’re at the beginning of your new business? Good for you! Right now, I’m sure you see the world at your feet and mountains as movable. You’re ready to charge hell with a water pistol. Now – the beginning of your business – is the best time to think about its end. You see, inevitably, you will leave your business at some point in the future. Eventually, your business will dissolve, a buyer will purchase it, or I hate to say it – you can no longer work.
You aren’t embarking on this journey, hoping that it will eventually shut its doors. You are starting a business hoping to amass great wealth, to create a legacy for future generations, or to make a difference in the world. It just makes sense that the business should carry on without you.
The problem is that most business owners work IN their business, not ON their business. The mistake of not thinking of the business as a sellable asset leads to 80% of owners not being able to sell it or selling for much less than they need for their retirement.
Good news, the beginning is a great time to start building a sellable business. Rather than focusing on monthly sales or profits alone, you must focus on long-term value growth that will eventually attract investors and buyers. And these value growth strategies often make your daily business life easier.
Ultimately, to make your business sellable, you must make it:
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