3. Recognize Owner Reliance
Let’s face it. Most small business owners get their hands dirty every day to keep their businesses going. It’s a luxury for a business owner to feel secure enough to step away. There is value in knowing that your staff and operation can run things smoothly in your absence.
When getting ready to sell your business, it’s good to be aware of how reliant the company is on you. Can you take a vacation for more than a few weeks or days at a time? Is the company’s operation dependent on all the information you keep in your head?
It’s a risk for a buyer to see that too much of the company’s success rests with you, the owner. The question on a buyer’s mind is: if I buy this company, will it continue to perform without you?