The No. 1 Intangible For Selling Your Business
I received a call this week from one of my favorite clients (I’ll call him Jim), who has become a close friend over the past few years. Jim couldn’t wait to tell me he had sold his business, adding that the intangible asset, my company had helped to implement, played a major role in the sale.
“Y’all are a Godsend,” Jim drawled in his Kentucky accent.
Folks, that call made my day! The reason being, our mission for the past 20 years is to help owners organize their businesses, one system at a time.
It’s rewarding to see an owner gain control of their business through systematization. Control systems, the well-conceived processes that operate a company from front to back, are the intangible asset that adds to the value of a business.
You see, a few years ago, Jim’s company was experiencing extreme chaos. Moreover, he was working 14 hours each day trying to keep up. However, we’re pleased to say, all that changed after Jim read our book. But, more importantly, Jim made the DECISION to implement the systems we teach and provide through software.
The Intangible Asset becomes Tangible Cash
Jim’s business life and world changed with that all-important decision. I’m proud to say, he was one who never turned back from his decision to turnkey his business systematically, no matter how difficult the opposition was from others. He’s a true champion and leader!
Jim built a several-million-dollar Water & Fire Mitigation company; one that became attractive to those looking to invest in a well-run business. As a result, his dream of financial independence has arrived. In fact, Jim and I had a long discussion about some of the things he will be doing with his new freedom.
How exciting is that - when the intangible becomes tangible!
Folks, my friend Jim is now living what we’ve been preaching, speaking, writing, teaching, exhorting and coaching is possible. Truly, the No. 1 intangible asset for a business is a well-written Operations Manual. Why?
Those seeking to buy or invest in a business, do NOT want one that runs like the average “mom & pop” shop. In other words, they desire a business that operates smoothly, whether the owner is present or not.
Jim also informed us, the new owner will continue using our service. In fact, he wants to implement our systems in all his other companies.
Congratulations, to my friend Jim!
Did I mention? Great systems work!
Philip Beyer, founder/president of Ebiz Products LLC and founder of Beyer Printing Inc. in Nashville Tenn., is a chronic entrepreneur, business systems analyst and consultant. Author of "System Busters: How to Stop Them in Your Business" and recipient of an InterTech Technology Award for the design and development of System100 business process management software. Beyer speaks to business owners across the country on how to bring lean, sustainable order to their businesses. Contact him at (615) 425-2652.