Do you own your business, or does it own you?Feb 08, 2024
Imagine this: you're on a one-month vacation, completely detached from your business.
Does this thought exhilarate or terrify you?
As business owners, we often blur the lines between owning a business and being owned by it.
This distinction is crucial not just for your freedom but also for the inherent value of your company.
Let me share a personal anecdote...
When I decided to sell my business, a startling realization hit me – the company's overreliance on me had significantly diminished its value. I was in a position where even a week's absence seemed a stretch.
Does this resonate with you?
This issue extends beyond mere time off. For many entrepreneurs, their business is a major part of their wealth portfolio...
80-90% of business owners have their wealth tied up in their companies - The Exit Planning Institute.
The real value of this wealth is realized upon selling the business.
However, if your business cannot flourish in your absence, its value plummets dramatically.
Contrary to what we often believe, our constant presence at the helm isn't always a selling point.
When negotiating my sale, the buyer, a public company, saw my business as a strategic asset. They made an attractive offer, based on cash and equity. But because it was overreliant on me, they insisted on a five-year earnout.
This deal could have led to a more lucrative 'second exit'. However my passion had shifted, and I was eager to explore new horizons.
The lesson here is profound yet simple: The more indispensable YOU are to your business, the less VALUABLE it becomes in the eyes of a buyer.
Now, if that's something you can relate to, here's the good news...
After scaling multiple companies to 8-figure valuations, exiting four, and mentoring over 100 CEOs, I've formulated a roadmap to help you scale and sell your business for maximum value.
I'm excited to share that we're gearing up to launch our Emerge & Exit Accelerator in March 2024.
This program is designed for businesses with revenues between $1 million and $50 million, aiming to scale, build value, and sell at a premium.
After we deliver this initial founding member's program, we will then assess the next launch schedule.
When we do offer it again, the price will be much higher. As a founding member, you will have access to all program revisions.
Join the waitlist to learn more about the Emerge & Exit Accelerator.