Most people start a consulting business and put themselves at the heart of it. You are selling your skills and expertise, possibly even your time. But really, you want your business to be able to run without you, enabling someone else to take charge.
Selling your business might seem a long way in the future. You might not even have considered it. But even if this idea isn’t on your radar, the processes involved will help you spend less time working and enable you to become more profitable. So how do you go about scaling your consultancy business to sell?
My guest on the podcast this week is Michael Zipursky, CEO of Consulting Success. He has helped more than 400 consultants from around the world add six and seven figures to their revenue. We discussed how to build your business so that it is not reliant on you and becomes attractive to a potential buyer.
We talked about:
- Understanding the criteria that makes a good business
- Structuring your business so it can support the lifestyle you want
- Knowing what you want to accomplish and working backwards
- Different models for your business
- Breaking your annual goals down into quarterly and monthly goals
- How to structure your business for sale
- Understanding the value of your business to a potential buyer
Get a free copy of Michael Zipursky’s book Act Now: How successful consultants thrive during chaos and uncertainty