1.) Business Plan and Budgeting
- Prepare a Business Plan that defines the company’s goals both short-term and long-term. Include a short-term financial projection that shows your pathway to sales growth and targeted profitability.
2.) Future Value versus Annual Compensation
Have an idea of what you want while you own the business (annual compensation) as well as the exit value (divestment compensation).
3.) Keep accurate records
If you want to increase the divestment comp, make sure you are doing everything you can to accurately track profitability. If you want a higher annual comp, then decrease profitability through the necessary tools (Depreciation Schedules, Etc.)
4.) Maintain a Role of Leadership, but do not become indispensable
Buyers need to see themselves as someone who can take over your role and maintain or grow the business from the point you have achieved.
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