Advantages of a Self-Running Business

In preparing to sell your business, make sure you are setting up a business that can run by itself at some level.

Here are some key points to consider:

Make sure the company doesn’t have the founder’s name on it.

Build a great team that can carry on without the founder. 

For every function in the business that requires the founder, the price will drop by some amount.

Run the business as a leader that can pass the reigns to someone else.

Setup processes and procedures so the business can continue without you.

Buyers put a price premium on self-running businesses.

Businesses that require hand holding by the founding team are priced lower.

Businesses that require the founding team to run it will require the founders to remain with the business even after the purchase.

 

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

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Thank you for joining your host Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing.

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Disclaimer:
Hall T Martin is the director of Investor Connect, which is a 501(c)(3) nonprofit dedicated to the education of investors for early-stage funding. All opinions expressed by Hall and podcast guests are solely their own opinions and do not reflect the opinion of Investor Connect. This podcast is for informational purposes only and should not be relied upon for the basis of investment decisions.