Tip #108: A business should be able to operate without the owner!

Tip 108Buyers for a business are looking to buy the company, not the owner (usually). When it comes time to sell, owners must have prepared the organization to operate without him or her. That means hiring and training top management. It means making sure that someone else has a strong relationship with top clients. And it means others know the formula for success in the business. A good test is for the owner(s) to feel comfortable taking a long vacation without checking in every day.

The song, Nobody Does It Better, by Carly Simon just doesn’t apply here!!!