Are you a Macro- or a Micro-manager? Your style can make a difference in the sale of your business and the price you obtain..
In today’s workplace, who has an eye on the big picture of the business? An owner who manages every manager and spends the rest of the time shuffling paperwork is estranged from the big outside world. Owners should occasionally get out of the office to meet customers, work the floor, drive the delivery truck, or sell the product. Owners who put themselves in the trenches are in touch with the business – this first-hand understanding will be evident to anyone who looks at the business.
Part of being a macro, big-picture manager is preparing for contingencies. The value of a business and the ease at which the sale of a business can be accomplished increases dramatically when the owner demonstrates appropriate delegation of duties and provides a backup managerial plan. If the owner is the business and personal disaster strikes, the answers to “What is the business worth?” and “Can the business be sold?” are not pleasant ones.
In Lexington Kentucky, your business broker, The Pulliam Company, can assist with advice on how to increase the salability of your business and obtain the best price.