Owning a business isn’t just about building and growing—it’s about being prepared for the future, including a potential sale. Planning for a sale from the start not only supports long-term success but also fuels growth. Many people believe that building, growing, and selling are separate stages, but they’re actually closely connected.
The things that make a business grow—like improving efficiency, building strong teams, and boosting profitability—are the same things potential buyers are looking at. By thinking about growth and sale preparation together, you’ll set your business up for success in both areas.
A few key questions to consider for both growth and sale preparation include:
1. Is Your Customer Base Diversified?
o For Growth: A diverse customer base reduces the risk of losing a large chunk of revenue if one client leaves.
o For Selling: Buyers want to see a stable, diversified customer base to feel confident about the business’s future.
2. Is the Business Too Dependent on You?
o For Growth: If the business is overly dependent on you, it can limit the ability take on new projects and affectively grow the business beyond its current capacity.
o For Selling: Buyers want to know the business will thrive without the original owner. If it’s too dependent on you, they’ll worry about its stability after you leave.
3. Do You Have Documented Processes and Systems?
o For Growth: Clear, documented processes ensure consistency, make training easier, and help the business scale.
o For Selling: Buyers see documented systems as a big plus because they make the transition smoother and reduce risks of disruption.
Even if selling isn’t on your radar, an exit plan ensures your business can adapt to changes and remain profitable Every day you spend growing your business should also be a day spent preparing for an eventual exit. The same factors that drive growth—like strong systems, a solid customer base, and a well-functioning team —also increase value, making your business resilient and ready for any future opportunities.
Source: BizBuySell