Biz 101 North

Preparation for sale of business or to manage for retirement

For small-business owners who want more freedom from day-to-day operations, we can help you prepare your operation to run smoothly and maintain profitability even when you're not present. Especially for entrepreneurs who love the start-up phase of a new enterprise but get bored with the daily routine, we can show you how to create business structures that require minimal management yet maximize effectiveness.

We can coach you on how to prepare your business for sale to maximize the selling price. In almost any business sale, having an owner extensively involved in operations will reduce the selling price. This is called a "key person operation," and it does not help you achieve a high price. We published a business series called Sell Signals, which showed how a company can prepare for sale, negotiate a beneficial price, then plan and organize a smooth transition to new ownership. Then you can retire and go fishing or sunbathing on a beach.