Most business owners aren't thinking about getting their company ready to sell until it's too late. What they miss is that preparing now helps you run a better business, in general, plus it protects you the event that things suddenly change.
In today's episode, Tim sits down with Dick Hoffman (Former Retailer & Chairman of the HPBA Board) to talk about his journey of selling the business that he started decades earlier and why he has chosen to remain active in the industry during his retirement.
In today's episode you will learn:
How to build your business so that it is ready to sell (it really isn't that hard, it just takes effort). Why putting systems and processes in place is key if you want to prepare for tomorrow (this is the difference between thinking long term and short term in your business). What the process of buying and selling a business entails (and how you can navigate it).Selling your business may be on your radar now, but things change quickly—and you always want to be ready. Taking these steps today will help you make more money right now as well as have a better company tomorrow.
Resources mentioned in this episode:
The Fire Time Magazine - http://www.thefiretimemagazine.com or http://www.itsfiretime.com/app
HPBA Retailer Tool Kit - https://www.hpba.org/retailer-toolkit
Sunbelt Business Brokers - https://www.sunbeltnetwork.com
To support The Fire Time Podcast financially, check out our Patreon site: https://www.patreon.com/itsfiretime
