Investors care most about risk. A business with documented, transferable systems looks less risky because it can run without the founder. Without clear systems, investors see higher risk and walk away.
An investor is looking at risk first, right? So when you put the systems in the company and they're going to take it over, they know that it's not going to walk out the door with the founder after they pay the founder. And also, if they can understand it, there's less risk. If they can't understand it, there's a lot of risk.
How Can You Maximize Your Business Value Before Selling? with Randy Katz Video
