How to Remove Risk from Your Business
Most business owners that want to exit their businesses want to do so for maximum value.
The absolute easiest way to do that is to remove as much risk from your business as possible so that you can provide a potential acquirer peace of mind and predictability.
Here's how to do that...
If your business has contracts with clients/customers, it is important that those contracts are transferable.
If you go to sell your business without transferable contracts, the valuation of your business will suffer because of the risk a buyer would incur due to the contracts NOT being transferable.
If your business has one customer that makes up 25% or more of overall revenue, there is inherent risk in that situation.
Your valuation will most likely take a hit due to this risk.
There's an easy fix for this. I just don't have time to go into it right now.
If your business doesn't have written SOPs in place, you're asking for trouble.
Also, if YOU are the primary value driver in the business, that's another problem.
These two items alone could make your business not just overly risky, but potentially unsellable.
Are you interested in exiting your business for maximum value?
Are you interested in preserving your legacy through your business?
Are you interested in peace of mind as you move on to the next phase of your life?
Most business owners never even think about selling their business.
Those that do usually don't have things in place to make it happen as quickly as they'd like.
One way or another, you WILL eventually exit your business. Start thinking about succession planning and legacy preservation.
Even if you don't plan to sell, it's a good idea to make sure you are set up to do so in the event of a personal, family, or financial emergency.
Allen Terrell Gregory
Private Investor | Business Mentor
I help business owners aged 55-70 get their businesses ready for exit and succession so they can preserve their legacy, retire from their business and spend more time with their families.
I only work with business owners that are phenomenal at what they do, willing to commit to a proven process, and truly care about their employees and customers.
With my help, you will achieve a steady stream of reliable income from your business without having to be there every day. Your employees will be well taken care of. And your legacy will be preserved.
Not only that, but you will have a safe pair of hands to guide the business to heights you've only imagined. You will be able to ride off into the sunset and live a life of total freedom with peace of mind that your business is in good hands.
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Legacy Media Consulting LLC is a limited liability company formed in the state of Maryland (USA) that provides consulting products and services for business owners
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