Even if you have no intention of selling your business down the line, it is always smart to begin with the end and build it as if you are going to sell it. On the winding road of life, you never know what lies around the next curve. Your situation could change drastically in the future, so it’s always better to have the option to sell. What does “build it like you’re going to sell it” mean? First and foremost, this means taking yourself out of the picture. The less dependent the business is on you, the more valuable will be to someone else. Businesses that depend on the founder are usually not sellable. You may be the rainmaker now, but reduce your burden by hiring other rainmakers. Get yourself out of the picture and build an organization that can sustain itself. This way, even if you never end up selling the business, it can provide the lifestyle you hoped for when you first started out.
The Agile Startup is an inspiring compilation of the most important lessons of innovation and entrepreneurship. It’s easier than ever to start a new business, and the potential rewards are enormous. But even with all of the available advantages and resources, the likelihood of any one business succeeding is slim. That’s why you need the simple, clear, actionable lessons found in The Agile Startup.
Author Matt Sand
Passionate about making a difference through innovation and entrepreneurship.