When it comes to business and life, there IS a master hack for entrepreneurs.
The hack of all hacks. A super strategy, if you will.
It is a strategy that allows you to scale your business bigger and faster.
A strategy that will increase your personal freedom while your business is growing rapidly.
Sound too good to be true?
It is very powerful and very real.
The reason that this strategy is so powerful is that it has you looking at YOUR business through a new lens—a lens that helps you make better decisions and leads to more clarity and more confidence.
Here’s the secret:
Prepare your company to SELL in 2-3 years.
Stay with me here.
Many people find this difficult because it can feel counterintuitive.
You might be thinking: Why would I design a business to sell (maybe I don’t want to sell it)?
Or how does designing to SELL actually help make the business better?
Good questions. Yes, I know that maybe you don’t want to sell it. That is absolutely fine. When you start using this powerful strategy, you will still be building a better business. Guess who else can be the beneficiary? Not a new buyer, but YOU. You can keep your newly optimized, incredibly valuable business all to yourself.
But you may also get it set up to sell and get the offer of a lifetime: a powerful exit on your timeframe, your terms, and at maximum value, simply because you optimized for it.
Either way, you are in a better position and have more options. That is a win for sure.
Why does it work?
Well, first of all, buyers have a critical eye. When they consider buying a company, they are looking for problems, hurdles, challenges, blockages, weaknesses, etc. So, when you start looking at your business through the eyes of a prospective buyer, you will start to identify these issues PROACTIVELY. You can start to address issues before they cause problems.
You can start to remove items that a buyer wouldn’t like (which are often things you shouldn’t have anyway).
You also tend to think: what would make a buyer feel better or get excited about my business? Things like:
- What intellectual property would make my company more valuable?
- Should I trademark something or create a new brand around a product?
- Is a patent or trade secret that would get buyers excited?
- What agreements would a buyer want me to have signed (that today are hand-shakes or “understandings”) with suppliers, customers, or employees?
And guess what? No buyer wants a business that depends on YOU to do everything. As a matter of fact, it needs to run well without you at all.
That leads to another great new set of questions and strategies:
- Who do I need to hire?
- Who can handle key meetings instead of me?
- What training should I put in place?
- What systems need to be in place so that the business is more efficient?
- What SOPs need to be documented and improved?
You can see that even with these quick examples above, this approach can (and will) lead to really powerful changes in your business. They are things you SHOULD be doing.
If you want to create scale in your business, increase profits, make the company more valuable, AND reduce the dependence on you (Ie. freedom for you), build your company so it can be sold in 2-3 years.
I teach people exactly how to do this AND add massive value to their companies through my exclusive program, ExitDNA.