Mark Osborne explains how to make your business less dependent on you so it's worth more to buyers and you can actually take time off. He covers operational changes that increase enterprise value and let owners step away without the business falling apart.
You hit on so many things there that I think are worth unpacking some of them and sort of underscoring them because they're so valuable. And the first is you talked about, you know, sort of this idea of, you know, the things that make a business more sellable, more transferable, more attractive to a buyer are also the things that make it just a better business to run from the perspective of less owner dependency. Yeah. Well, if you can't step away from your business, then a buyer can't see themselves running that business. So it's not very sellable, not very transferable. It also means you can never take a vacation. And so by building the things that make it less dependent on the owner, you make it, you know, you increase that enterprise value, you increase the sellability, the attractiveness to a buyer, but you also make your life better because you can step away from it.
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