Oct 26, 2022
Nobody wants to think about the end of something at the beginning. That beginning excited feeling can be a little lessened by a single, fundamental truth: Everything that starts also ends.
It’s rare for entrepreneurs to think about the end of their business at the beginning. We’re so consumed with growing and next steps that it is hard to remember what we’re growing toward. Maybe you want to pass your business to your kids. Maybe you want to sell after 10 years. Maybe you want to grow a successor from your team. But you might not have given any of those paths serious thoughts because they are all ‘someday.’
If you’re lucky enough to choose your business’s end (or your end in your business), there are a few elements to keep in mind along the way that can make your business significantly more valuable. And they’re not easy to create once you’ve decided to end the journey - they’re much more powerful along the way.
Listen in as Michelle and JoyGenea discuss three key ways to make your business more valuable: Audited financials, Diversified revenue, and written standard operating procedures.