Manage episode 328316900 series 2943616
One reason to start a business is to sell it. Carl explains the succession stage.
Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results.
If you choose to go through to stage seven, whether you choose to sell your business or not, it is still part of the success cycle to position your company that it is sellable. Because in the end, the business is its own person, and they need to be a positive cash producing asset and that's what makes it sellable. Stage seven, the succession stage. This is when a legacy is born, you're firing on all cylinders. You are an MVP business and an MVP organization. You have strong direction, robust sales, consistent systems, you have quality products and controls, you can now pass this business along you can donate it, you can will it or sell it to somebody or you can keep it as a cash producing annuity or asset and that success cycle from stage one to stage seven can be a 36 month journey, follow the methodology and in 36 months you can go from startup to seven figures and be in a position to succeed your business or sell it in 36 months or less.
Like and follow this podcast so you can learn more. My name is Carl Gould and this has been your #70secondCEO.