The benefits of building to sell.
Regardless of your ACTUAL long term goal, building to sell can be a really smart move.
Hi and welcome to another episode of BaranovTV, designed to demystify the world of accounts and tax and to help your business grow.
Now as you can see I’m out and about today and I’m actually in Berkhamsted which is where we used to have our old business, which we sold. Quite often on that journey over, which used to be my daily commute, my head turns to the fact that we sold. Today I was actually thinking that building to sell is actually a really astute move, whether that’s your initial intention or not.
Now bear with me because actually it’s a really good idea because it forces you to make really good long term decisions for the business.
- It also helps you as a business owner too, because to build a business to sell you need to build it without you being an absolutely key part.
- It means you need to build the business to have very clear processes and systems that mean that you don’t have to be there 24/7.
- It means that you’ll find it easier to gain finance in the long term.
- It means that the business won’t fall over if you want to go on a holiday or if you’re unfortunately poorly. The business will continue to run.
- It also means that you’ll be in a much better place generally and much less reliant on your input, allowing you to concentrate on building the business rather than doing the day to day.
So there are lots of good reasons why you might want to build the business with a definite sale in mind, as I say, regardless of your long term intention.
If you’re thinking of building a business to sell, that’s really good move, but if you’re thinking of selling a business you built, then you might want to give us a shout because we can help around the whole process of making sure that any sale deal is built in the best possible way for you, from a tax perspective.
Anyway I’ll leave you with that thought; I’m going to head off to my meeting and I’ll see you all very soon.