The more salable your business is the more valuable it is. Therefore it isn't really about selling your business, but more about how important it is to treat your business as any other asset you own. Therefore, making your business more salable today is important if you what to position yourself for More Freedom and Profits in the future.
Three simple questions:
How much is your business worth today?
What is your estimated business sale value 5-10 years from today?
What is your plan to get your business to that sale value?
If you don't know the answer to all of these questions - then I know:
You are not running your business as you should,
You are working in your business and not on your business, which makes you an employee of your business - you only think you are the owner,
Therefore, you are not making your business work for you and your business is not performing as it should to be a solid financial asset or investment.
Your business is an asset and needs to be treated the same as any investment you have in your investment portfolio. For example - If you buy a stock you are looking for a Quality Stock - meaning you are looking for a stock that has:
Positive appreciation (value),
Strong and sound management,
Sound strategic planning,
Good sales and showing strong sales expectations in the future,
Strong profits and showing strong profit expectations in the future,
Strong balance sheet,
Great systems to support the business effectively - now and in the future,
Great leadership and employee talent moving the company to a greater future,
Not susceptible to earnings and profit swings due to risk factors such as competitors, no niche, market forces, limited customer base, message, etc.,
Future revenue sources secure and improving,
Customer satisfaction high,
Liquid investment - can be sold quickly if you need the cash.
A stock you own - the company you own - should be two investments you know the value of each. You want an investment that meets most, if not all, of the above indicators of a good stock asset purchase.
So are you treating your business as an investment? Are you putting your biggest investment of time and money - your future - your family's future, your retirement - and more at risk?