Listen to the Episode Below:
If you’re in the service business, the value of the business is in your hands. (Or brains). But how do you monetize your specific service and skill set? How you can turn your services into assets so your business is more attractive to buyers down the line?
On this episode, business lawyer and best-selling author Cliff Ennico, Esq. shares what it's like to be looking at it from the buyer's side, so you can reverse-engineer the steps to a successful exit!
Inside Secrets from the Buyer’s Side…
A buyer wants a turnkey operation. Yet, up to 60% of customers may leave when a service business changes hands. That's scary for buyers. Helping your customers "groove" with the new buyers goes a long way to minimize attrition rate.
Plan to stick around ... for a little while. Buyers get nervous when an owner wants to jump ship within 30 days. Consider a transition period of 6 to 24 months to help your buyers understand the business.
Know your assets. In a service