As you may have guessed a “Buyable business” is a company that others find valuable and would want to buy.
Doesn’t that seem redundant? Why should anyone want to build an “unbuyable’ business? Why would they want a business that does not come across as valuable and desirable to others? Who would want to own such a thing?
Sadly, over 90% of small businesses (i.e. having 10-250 employees) never find a buyer during their short life span. They remain stuck as an extension of their owners’ personal practice. At other times they overextend themselves and go out of business, sending their owner back to paid employment with a second mortgage or as a bankrupt renter.
I have recently finished a book on this subject, which will be coming out next year, and in the meantime, I will be sharing ideas from it through this blog.
Six Areas of business Buyability
In general terms, there are six areas you would need to consider to make your business Buyable:
- Your personal vision of what makes you happy and what it would take for you to get to…
