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Business owners are always great at what they do. They know their business inside and out.

But what happens when it’s time to sell your business? Do you have the results you need to justify the price you want?

Most of the time, business owners need to start working on their business instead of in their business. What we are doing to help our business clients is acting as the external advisor to their business, helping them follow the three steps essential to building their business value.

1. Find your Purpose

Your business needs desire. You need something that is going to drive your business from now until you sell it. You need purpose.

You find your purpose by asking why. Why do you own a business? Why did you choose this industry?

2. Set your Goals

Once you know your purpose you need a target for the future. Is it your business sale value in 5 years’ time? Or is it more personal like days where you don’t have to go into work each week? Whatever your goal is you need to set it for a point in the future and work towards it.

3. Monitor your Progress

It is one thing to keep track of where you are compared to your target but what happens when you fall short? How do you stay on track?

Ask you accountant! We can act as the external advisor to your business, running a second set of eyes over the numbers and your business processes to let you know if anything seems abnormal.

The process we take in improving business sale value is allowing our business clients more certainty of what they’ll receive when they sell their business. The last thing you want is to have a great business but because you didn’t plan ahead, you didn’t get as much for it as you needed.

Talk to us today about maximising your business sale value – you can’t afford not to.

PH: (08) 99644942    E: accountants@midcoastpartners.com.au

General information disclaimer: 

This article is for use of a general nature only and is not intended to be relied upon as, nor be substitute for, specific professional advice. No responsibility for loss occasioned to any persons or organisations acting on or refraining from action as a result of any information or material on our website will be accepted. Please ensure you contact us to discuss your particular circumstances and how the information provided applies to your situation.