Strategies for Getting Your Company Ready to Sell
Today's episode of the podcast, Robert Hirsch from Freedom Factory speaks about the methods you should be utilizing when getting your business ready to sell.
Hi, it's Robert Hirsch from Freedom Factory. I was just developing in my mountain home and I required to inform you this. I'm just dealing with it with a new customer and we're getting their company ready for sale, and I'm going through all their details, and I realized that not only do I need to inform our brand-new consumer this, but I think telling all of our clients how to get your company prepared for sale is just going to help our people and our entrepreneurs.
So to start with, I want to speak about a distinction between owning a task and owning a company. And I discuss this a lot, but perhaps I have not explained it along with I could.
So if you're uncertain if you own a task or you own a company, simply don't appear for a week. Maybe do a little bit of work from home. But if your income remains the exact same or increases, you own a business. You have actually built a machine that makes a machine.
If your earnings goes down or your sales go down, you own a task. And before you go to offer your service, having the ability to transition, owning a job to owning a company who actually assist your appraisal.
And if you don't know how to do it. We assist organisations with that all the time with our home stretch program. And so once again, if you're unsure if you own a service or you own a task, the best base test that I understand is simply don't show up. See what takes place when you're not there since you desire a business that's built on systems and procedures, not on a single person in this intrinsic understanding.
Also when I write my operation handbook for my organisation, I try and make it so simple. I joke that a monkey might do it, but I attempt and make it so easy that even my teenager might do it. Having the ability to read it and understand it, not using a great deal of industry lingo or challenging to comprehend words so that the business runs the method you desire it to is going to maximize your appraisal. By the way, if you have not created an operations handbook for your company and you're thinking of selling it, this would be a fun time to do so.
Also when I write my operation handbook for my organisation, I try and make it so simple. I joke that a monkey might do it, but I attempt and make it so easy that even my teenager might do it. Having the ability to read it and understand it, not using a great deal of industry lingo or challenging to comprehend words so that the business runs the method you desire it to is going to maximize your appraisal. By the way, if you have not created an operations handbook for your company and you're thinking of selling it, this would be a fun time to do so.
Some of the tricks that I used to do that, I spoke to every role and I haven't put their functions and obligations. I put it all in there. I take my company objective and worths. I put it all in there. I take my agreements and the things that I utilize over and over once again. For example, here at Flexibility Factory, we have a quite robust file set, non-disclosures, letter of intent, property purchase agreements, stock purchase contracts - all the important things that we use a lot for our client's benefit.
I put everything in this operations handbook to get it into one location so that's easy to use. These and other things are going to assist you develop an organisation and not a task. And if you do own a job, please don't be prevented. You understand, transitioning a job to an organisation is fairly easy to do. It typically takes about three to six months and it can considerably impact the final market price of your organisation. If you need any help with anything, just give us a call at Freedom Factory. Thank you so much for enjoying. Please hit like and subscribe and we'll see you soon.
Contact Freedom Factory
5500 Greenwood Plaza Blvd., Ste 230
Greenwood Village, CO 80111
Phone: 844-MAX-VALUE (844-629-8258)
https://www.freedomfactory.com/
https://g.page/freedom-factory-denver
Also Follow Freedom Factory here
Greenwood Village, CO 80111
Phone: 844-MAX-VALUE (844-629-8258)
https://www.freedomfactory.com/
https://g.page/freedom-factory-denver
Also Follow Freedom Factory here
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