Welcome to the Evolvepreneur (After Hours) Show
I am your Special Host Richard Wray
Join me today where we dig deep with our guests and get you the best concepts and strategies to fast-track your business.
My very special guest today is Allen Gregory ...
Allen helps business owners plan their exit and succession, preserving their legacy and enabling retirement. He emphasizes the need for proper documentation and planning to ensure a smooth transition. Allen focuses on enhancing intangible capitals and recommends a 12-36 month collaboration to maximize exit value. The key advice: a business's value lies in its successful transferability.
Key Moments:
- Having standard operating procedures in place is crucial for businesses to be transferable and valuable. Most businesses lack proper SOPs.
- Succession planning and having a management layer in place is important for businesses to transition smoothly when the owner steps away.
- Proper financial records and at least 3 years of financial data is needed to accurately value a business. Many businesses lack this.
- The four intangible capitals - human, customer, structural and social capital - need to be in place to make a business more valuable and transferable.
- It typically takes at least 12-36 months of work to properly prepare a business for exit or succession. Many owners wait too long.
- Even thinking about retiring can subconsciously degrade a business, lowering its value by the time the owner is ready to sell.
- Setting things up from the start to be transferable is important for business longevity and value.
- Having standard operating procedures in place is attractive to potential buyers.
- Buyers prefer businesses that will take care of existing employees and preserve the legacy of the owner.
- Creating value, not just generating income, is important for business success and transferability.
About The Show
Evolvepreneur (After Hours) Show features guest stories about entrepreneurs and their journeys from startup, growth to success.
If you're looking to succeed with quick start concepts for online entrepreneurs, this brand new show reveals how startup entrepreneurs or someone looking to start, grow or reboot their online business can understand how to create specific strategies to build their list, make offers and connect with their best buyers.
We want to help entrepreneurs make a real difference and navigate the messy world of startup or re-launch.
Also, visit https://evolvepreneur.app/podcast/show to grab your free copy of #1 International Best Selling Book "Evolvepreneur Secrets for Entrepreneurs".
Subscribe and get immediate access!
Want to be a guest on the show?
Apply here: https://evolvepreneur.app/page/guestapplication
Sponsored by Evolvepreneur.app—"Your All In One Business System".
