Ed Weeks explains why owner dependency tanks a business's value. If your company can't run without you, you can't acquire others, raise capital, attract partners, or step back. Waiting until six months before selling to fix this is too late.
We've learned something about the owner's freedom because owner dependency doesn't only cost you when you sell, it costs you while you still own the company. It limits your ability to buy something else. It limits your ability to step back. It limits the capital you can bring in. It limits who might partner with you. And eventually, yes, it can limit what somebody is willing to pay for the business. But waiting until 6 months before a sale to fix that is a little late.
