Welcome back to my weekly articles on business building. In order to extract value from a business it needs to be sellable. In order to create enhanced salability, the business must have a good team driving it. Creating leaders within a company must be intentional. By taking the time to build good leaders within your organization, you can set your business up for long-term success as well as increase the attractiveness and readiness of the business, which will translate into a highly sellable, valuable business.
Most owners get one chance to get it right and being ill prepared should not be an option, yet most owners cannot sell the business they built (only 1 in 10 are successful) because they did not build a salable asset. If selling your business to fund your future lifestyle is a must, ask yourself whether you are prepared or not, and then identify what you need to do to get to where you need to be.