I started at the age of 14 by joining my family fashion export business. Stayed in family business till the age of 19-20. Got really frustrated as I felt like a slave of the system as it was a small business. My observation tells me that most entrepreneurs cannot leave their business for a long vacation as they will start to lose money. If you leave your business and lose money, in essence you don't have a business, with respect you are a slave of your business.
Most small businesses depend on the founder and the small business mindset doesn’t quite work as you never make enough money to enjoy the life for the main reason most people start business in the first place. If your business makes money without you, that’s when you really have a business. If you sell your business and get some value, that’s when you have a business. The purpose of writing this is to help you with strategies you can use to build a profitable business which runs without you and be able to get to a point where you could sell your share of the business for possibly a life changing amount. Is it going to be an easy ride? The answer is no but for sure it’s going to be worth it. There are 4 categories of businesses – Micro, Small, Medium and Large. Any company that employs less than 250 people is normally considered a SME. But the question is how does one grow a company to 250 plus employees and or over £50m Revenue? as that’s where it’s considered a large business with a life changing amount at the back if you sell it. Our life turns out with the quality of questions we ask ourselves so I asked myself a question- “How do I create a business which I could sell for a life changing amount? So, started working towards it. I also consult other businesses as I went through the experience and have been observing people who have sold businesses for life changing amounts. We built 2 businesses from scratch and sold them but was not easy however it gave me the foundational experience I needed to build a much bigger business. One of those businesses we built was a 7-figure business. Some strategies are about business growth, others about how to get a higher valuation when looking to sell your share of the business and some are on how to buy other businesses for free and add them to your profit base. Sales, marketing and strategic positioning are at the core of exponential growth. You could have the best product on the planet but if you are not positioned right, you will struggle. When selling you shares of the business, value of anything is always subjective so what a prospective buyer is prepared to pay. Keeping that in mind, you network will play a big part in your business sale. The more people know how your business runs and how it makes money and how they can take a part of the pie will play a big part. At the core of it is that you must always create a business with high margins or you will struggle. Another way of doing it is if you can sell volumes but that’s never easy. So, you must always keep in mind that anything you plan to sell must have high margins so you could take money out for research & development, marketing and have a sales team you could pay to. That’s the only easier way to be able build a business which will make you money while you are on a long vacation. That’s the only easier way to be able to build a business that will get you a higher valuation (higher margins higher valuation). We help Entrepreneurs Create Powerful Businesses and sell for life changing amounts. Get in touch now to see how we can help you on +447886962647.