Scaling Your Consultancy Business To Sell
This was originally posted on my Seven Figure Consultant LinkedIn Newsletter. Subscribe today to get insights about how women are building powerful and impactful consulting businesses.
How do you build value into your business beyond what you can personally deliver?
A lot of women tell me they would like to work part-time hours for all kinds of reasons. But I also see so many women starting consultancy businesses which rely on them doing all the work. They build themselves into the core of the business.
When you have been used to being an employee in someone else’s business, that’s understandable, but it means you are tied in. If you have dreams of travel, or you simply want to not work during school holidays, and the business is reliant on you being there, that’s not going to happen. You need to think about how to build value in your business, rather than making yourself that value.
And when you do this, you open up another opportunity: selling your business. Now this might not have even crossed your mind. Most women do not think of this when they first set up their consulting business. But there may come a time when selling is an attractive proposition.
If you’re wondering where to start with this idea, then my guest on the Seven Figure Consultant Podcast in this episode is Michael Zipursky, CEO of Consulting Success. We spoke about how to scale your business for sale and even if this isn’t something you currently have in mind, Michael shares plenty of insights which will help free up your time and make your business more profitable.
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
And let me know, is having a business you can sell something you are working towards?
Free Report – The Six Elements of a Seven Figure Consulting Business
I’ve created a free PDF report called The Six Elements of a Seven Figure Business. It’s my most popular free resource and in it I outline the 6 areas of unscaled businesses that need to change in order to move past being ‘booked up and burned out’ and shifting into that higher gear that gets you cruising again.
It’s the framework that helps consultant women like you find their feet and get back to leading the business, rather than being buried in client work and back-end business operations.
Thanks for reading! I’d love to hear your feedback and future topics you’d like me to feature.