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001 - The Mistake 80% of Business Owners Make
Manage episode 407485269 series 3562982
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80% of business owners make a crucial mistake when it comes to one (if not THE) biggest asset they have - THEIR BUSINESS!
But, you do NOT have to make that mistake.
Learn what that mistake is, some key reasons behind it, and how you can avoid it, so you can scale your business and create an exit strategy that works for your retirement plan.
Chapters
00:00 Introduction 01:16 Steve's Unique Position to Help Business Owners 03:09 The Mistake 80% of Business Owners Make 04:03 Reason 1: No Exit Plan 08:07 Reason 2: Business is Not Transferable 11:22 Reason 3: Centralized Customer Base 12:51 Key Takeaways
Takeaways
- Having an exit plan is crucial for business owners to ensure a successful sale of their business and secure their retirement income.
- Building transferable assets, such as documented processes and a capable team, is essential for a business to be attractive to potential buyers.
- Managing risks, such as diversifying the customer base, is important to avoid hindering the sale of the business.
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