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Create a Standard Service Offering

Continuing our discussion with author and entrepreneur John Warrillow, this week we dive into the first of the 8 steps he recommends toward creating a "sellable" company: creating a standard service offering.

When you create a standard service offering, you find a service your clients value and that you can teach someone else to perform. In other words, you create a high value, turn-key operation with documented systems and a way of doing business that isn't dependent on you, the owner, to run. Sounds good, right?

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Exit Your Company the Right Way

When an artist begins a painting, he typically has a vision in his mind of what the painting will look like when it is finished. When a football team takes the field, they know the definition of success — a victory. The same is true for your business. When defining what "a win" means to your business, you must consider the short-term, intermediate-term, and long-term.

In Exit Your Company the Right Way, Mark Jordan of VERCOR, an investment bank that creates liquidity for middle market business owners, shares the three most common exit planning strategies and a warning story about poor family succession planning.

For some business owners, talking about the end of your business can be... well, downright painful! If you break out in a cold sweat just thinking about selling your business or passing it on to a family member, we want to hear from you.

Follow this link and tell us what it is about planning the end of your business that makes you nervous or anxious... or maybe both?

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Exit Your Company the Right Way

Inside This Edition:

Create a Standard Service Offering

Exit Your Company the Right Way

We Want to Hear From You