Take One Month Off From Running Your Business - A Buyer Side Test

This is the true test of whether a business can be sold. Can you take a month off and separate yourself from the business? Buyers can always sniff out an owner who works long hours in the business. They will ask how many days of vacation you have taken in the last year, where to, etc. They also, will drill down on the owner weekly hours and job responsibilities. If you are an owner that can't get out of the business, you may face litigation later if they find out you are working long hours and say you are never there. New owners find out very quickly what has gone on in the past. Employees who are unsettled about their new boss, will tell them the truth.

While on vacation, document and take selfies (joke) when you are away. Show revenues and stability when you were gone. Remember the buyer will use the tactic "you are the business" to lower the price. It will be your job to prove your separation from the business, just as you would for financials. It is always asked in multiple forms during any negotiation. Rookie sellers will get tripped up on this key deal component. No buyer wants to get blindsided by owner overtime hours, micro management or multiple functions performed by a prior owner. Nor do they want to buy a company where the owner is the business.

Our Vacation  Management Service is the number one service that people ask about from Feite Enterprises. Take advantage. Your spouse already approved of using the service..haha.