Many business owners consider selling their company, but often lack clarity on their exit potential. Key factors influencing sellability include the company's growth state and its reliance on the founder. To ensure a successful sale, owners should assess their business's financial performance, operational independence, and market trends well in advance. Practical ChatGPT prompts can help owners scrutinize their metrics, check for overreliance on themselves, and identify actionable areas for improvement, ultimately increasing the value of their business well ahead of a potential sale.
'Without signs of growth, your business is far less appealing to buyers... make sure they stack up. Revenue, profit margins, customer acquisition costs and lifetime value all matter more than you think.'
'If your business relies on you, it's worth less than you think... No one wants to buy your business only for it to crumble to nothing the moment you leave.'
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