Selling a business involves more than just finding a buyer. You need to make your business more attractive to buyers and be prepared for an exit at any given time.
Knowing your business's actual value helps you set good goals and adjust your plans. Many owners think their business is worth more than it is, which can cause problems when selling.
After you know your business's value, find ways to increase it. This might mean improving how you work, getting more customers or transforming your personal brand into a business brand.
Sarah, who owned a small relocation company, found out her business was worth $745,000 - less than her million-dollar goal. By focusing on getting more recurring revenue and improving customer satisfaction, she increased her business's value to $1.2 million in 18 months.
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