BRX Pro Tip: If You Want to Sell Your Business
Stone Payton: [00:00:00] And we are back with Business Radio X Pro Tips. Lee Kantor and Stone Payton here with you. Lee, we’ve got an upcoming season of Buy A Business Near Me. But let’s talk a little bit about, you know, if you want to sell your business.
Lee Kantor: [00:00:14] Yeah. We’ve learned a lot of things on that show and through the interviews over time. Most entrepreneurs at some point are going to exit their business one way or another. So if you want to sell your business, you better be doing these two things well.
Lee Kantor: [00:00:27] The first thing you have to do is get your processes written down. You have to have standard operating procedures or playbooks for every aspect of your business. This gives the buyer confidence that they can continue to operate your business in your absence.
Lee Kantor: [00:00:44] A second tip is if you can automate some of those standard operating procedures, that’s even better. Anything that operates your business with less people and more processes is going to be more attractive.
Lee Kantor: [00:00:57] Another thing to do is to know your numbers. What are the metrics that matter and can you show a pattern of growth?
Lee Kantor: [00:01:04] Get your processes right, get your numbers right, and you can successfully sell your business.
