Have you ever taken the time to really look at your business through the eyes of a prospective buyer of your business?
Have you, in your mind, literally become the person, or perhaps their significant other, and looked honestly at what your business value would be?
Can you actually do it?
Hope you can. Looking through another’s eyes is one of the most powerful techniques man has ever used. Ground battles, corporate battles, and the hearts of great partners have been won because there is a true alignment with “perspective” of another.
When you become the “buyer” of your business, the secrets of how to influence them will magically appear – seriously!!! You don’t have to be an expert to do this. The same thing happens when you trade minds with your children or partner/spouse. Some of what you “see” may actually shock or change your approach to getting what you want in unexpected ways.
I truly believe that the man or woman who has the power to really look at their work through another person’s eyes has an incredible advantage in all business and personal situations. If you find this ability comes easily to you, then by all means, you must engage it deeply and completely.
When you look, and I mean really look, at the number of hours you work in the business, its profit and loss reports, admin, marketing and sales systems, shop lease, franchise/supplier agreements etc. through a buyers eyes, you aren’t able to look away if you’re looking through a buyers eyes. You must commit and tune into new feelings, attitudes, and background “filters”, and you must tune out to the you from the picture entirely. Get good at doing this and you will find hundreds of ways to improve your business, reduce risk and change your approach to both your business and personal life immediately and dramatically.
Guys, if you have a great business and one day you want to sell, you must think like a buyer who has one priority, to get what they want, not what you want. Thinking like a buyer is a serious technique that physically requires your eyes to be closed to even begin to touch its real power (go on… you can do it! wink, wink ;-). To do this effectively, you need to move beyond the ego “I” and get your own feelings, thoughts, and attachments about your business out of the way, so you can see things from the perspective of others – especially the buyers accountant, lawyer and financier.
When you can consistently step into your business buyer’s shoes, you’ll begin to understand how to strategically build value in your business so that it is attractive, ready and profitable for a buyer. Work hard now on the bottom line, so you avoid disappointment at the top line when it goes to market.
Want to learn more about how to prepare your business for sale? Complete the section below to find out how to get your hands on my “How to Sell your Business” workbook.
Work hard. Play hard.