Today, we’re jumping into the first episode in a series about uncovering how much your business is really worth. We’ll also be covering the steps that you, as an owner, manager, or investor can do to improve the valuation of the business. If you’re able to put these practices into place and would like to share your story, feel free to reach out.

Current data suggests that although many business owners want to sell their business, they don’t end up doing so. Why might this be? Business owners who spend most of their time working in their business as opposed to on their business build one that is closely tied to them. This means that although they may be improving the lives of others through their product or service, they’re not creating a value for their business that can clearly be defined apart from themselves.

There’s nothing inherently wrong with this. Entrepreneurship and starting your own business is a noble career that can help you lead a wonderful life, but it doesn’t always help you build a sell-able business. Being conscious of this is very important, as it’s a tragedy to realize this years down the road.

There are plenty of businesses that do sell — even ones who aren’t in the perfect position to sell manage to avoid a market transaction by having a sibling or child buy their business. Though, this isn’t necessarily a situation you want to put your family in or be in yourself.

Your business may have tons of value and you simply haven’t recognized it yet. It can take a bit of a paradigm shift to see what makes sense for the buyer. Seeing your business from a different point of view will reduce your frustration and help you be more profitable in the long run.

We also reference this important post on working ON your business instead of IN your business: https://www.emergedynamics.com/post/work-on-your-business-not-in-your-business