How to Be 10x Happier As a Business Owner
#sellabusiness #acquisitions #business
This video is an excerpt from the “Grow Your Damn Business” Podcast with Scott Goodrich. The episode is entitled “Insights on Crafting Marketable and Resilient Businesses with Marty Fahncke”, and you just might learn a thing or two if you check out the full episode at the links below…
Listen: https://player.captivate.fm/episode/587125a1-cdad-4254-8025-cec2326a2643
Watch: https://www.youtube.com/watch?v=Uwg3tdfAIYQ
In this video:
So decision making, finances, operating system, and capital expenditure, or not even not in capital expenditure, but big decisions, you have to make differently when you’re thinking about being acquired versus keeping the business. Now, here’s what’s cool about this. If you are a business owner and you do those three things to prepare your business for sale. Even if you never sell your business. You’re going to be ten times happier as a business owner because your finances are going to be cleaned up. You’re going to have an operating system. You’re going to be making the right decisions to run your business for the right reasons and you’re going to be a much happier entrepreneur. And we see it all the time. I sometimes liken this to Real Estate because it’s something that people can conceive. More people buy and sell houses in their lifetime than businesses. So I say, if you’ve ever put a house up for sale and they tell you, well, you should “stage” your house and somebody comes in and they clean up the clutter and touch up the paint and maybe do a little landscaping and even all the way to the baking chocolate chip cookies when the open house is open, right? And it is not uncommon for homeowners to say, “I want to sell my house” and then do all of the things needed to stage it and look around and say “this place isn’t half bad, maybe I’ll just stay.”
Scott Goodrich
Pretty nice house I got here.
Marty M. Fahncke
It does happen. Trust me, I know a lot of Real Estate agents. It happens. And I’ve had business owners say the same thing, “Oh man, I’m tired. I’m burnt out. I’m exhausted. I really want to sell my business.” So, we do all the things necessary to get it sold and then they go, “Well, this place isn’t bad and now I’m only working 10 hours a week instead of 60 hours a week. I think I’m going to keep it. Great!
Marty M. Fahncke
So even if you don’t think you’re going to sell, the steps to prepare your business to sell are going to be valuable to you anyway.
To learn more about Marty Fahncke, Business Acquisitions, and Westbound Road visit our website: https://www.westboundroad.com
