Building a Company You Can Easily Sell

Like people, no business is perfect. As funny as it might sound, many companies inherit the flaws of their founders and managers. The bad news is, flawed characteristics within a company typically do not bode well for selling a business at a high multiple or even selling at all. And while a business certainly can’t eliminate all its flaws, there are a few key tweaks that will help any business prepare itself for the eventual and inevitable transition to new owners.

First, the business must be able to operate devoid of the founder. This could mean very different things for different companies. Some owners hold all the cards in the relationships with key customers, suppliers or employees. For other firms, where the owner is the toiler in the business, he/she is likely the chief cook, bottle washer and probably does the taxes every year as well. In such firms, the business is going to command a very low valuation and will not be as tempting of an acquisition. Insource what makes sense to other internal managers and outsource all the non-core.

Read more at:
Building a Company You Can Easily Sell:

For additional information regarding Florida business sales, acquisitions and valuations, please contact Eric J. Gall at info@buysellflbiz.com or 239.738.6227. Also, visit our Florida Business Exchange website at www.fbxbrokers.com and my personal website at www.buysellflbiz.com.