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What Is Your Business Worth?

10th Feb 2016
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Last week I had to do quite a bit of driving. When I am in the car I often listen to audio books, podcasts and ¬courses I have downloaded from the net.

On one particular journey I got listening to an interview. Both the interviewee and the interviewer were American and after they had got over the premeditated excitement of speaking to each other, they then began to talk about growing and selling businesses.

Nothing unusual about that, I thought, and to be honest I was very close to switching it off.

Then the question came…

The interviewer asked…

How did you know it was time to sell your business?

The interviewee went on to explain he was asked the question “How much do you want to sell your business for?” in a hot seat at his paid-for mastermind group.

He instantly knew the answer and when he went away to work out what his then current business was worth he ended up with the same number!

He had it sold within three months and went off to enjoy a well-earned break.

Now this got me thinking. How much would I sell my businesses for? I had some rough answers as I drove along.

Then it struck me….

This could be a really simple vision. Set your goals (business value) and work out a way to get there.

So here are some questions for you…

How much do you want to sell your practice for?

£500K, £1M, £2M?

And the most important one…

What’s stopping you doing that right now?

Then go work on the answer.

My latest bi-monthly mastermind group starts at the end of February and I currently have 1 place left. If you would like to have a chat about joining 7 other inspiring, challenging and supporting accountants (most of them award winning!) just comment “yes please” below and we’ll set up a time to chat through your options.

Let’s Get Started…

Pull Your Socks Up…

Simon

This blog post first appeared on www.socksupsimon.com in a slightly different format.  If you would like to get them delivered straight to your inbox each week just request a copy of “My 21 Tip Top Pieces of Savvy Software to Help Accountants Save Time, Money and Face!” and I’ll make sure that happens.

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