Small businesses often operate as if their sole purpose is to fund the owner’s lifestyle, but the most valuable companies are run with financial rigor. You may be years from wanting to sell, but starting to formalize your operations now will help you predict the future of your business.
Then, when it does come time to sell, you’ll fetch more for what you’ve built because acquirers pay the most for companies when they are less risky. There’s nothing that gives a buyer more confidence than clean books and proper record keeping.
In this episode we're diving into a fascinating topic that's often debated among business owners and that’s the idea of running a private company like a public company.
We'll explore what this means, the potential benefits and challenges, and whether it's the right strategy for your business. And you'll hear how one business owner applied these principles to sell his business for a ton of money.
What to listen to next:
Episode 31 - Mastering Business Ownership: Ten Tips to Boost Your Company's Value

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