How much is my business worth?

Business

It’s a great question, but the answer may not be what you expect. Remember that the worth is determined by the person who wants to buy it. The price you want or need for your business has no relevance to the price a buyer will pay.

You will have invested blood, sweat and tears into your business over the years. But, if you wish to sell your business, the buyers need to see and understand its value.

There are a myriad of ways that people value a business. Rather than go through the many and somewhat confusing options, we suggest that you do the following to give yourself the best opportunity to either sell your business or create one that is healthy, profitable and sustainable.

• Decide what you want from your business journey – begin with the end in mind
• Implement a business framework and live it every day
• Build and educate your team with your culture in mind
• Plan at least 12 months ahead for what you want to do, and achieve, in your business
• If required, get someone to help you decide and implement the above

The EBS team are here to help you. We can assist you to work through these, and other questions, to determine the health of your business.

Contact us for more information, or if you have any questions about any of the concepts discussed this month. We will help you put your worries to rest through developing the right strategies to suit you and your business goals.