The Facts of Business Life: What Every Successful Business Owner Knows That You Dont by Bill McBean

Author:Bill McBean
Language: eng
Format: mobi
Tags: Business & Economics, General
ISBN: 9781118094969
Publisher: Wiley
Published: 2012-10-09T00:00:00+00:00

Understanding the need to protect your assets enables you to realize that you have a new customer at Level 5—a buyer or a successor.

Understanding the need to protect your assets helps you accurately explain your business, including its tangible and intangible assets, and choose a buyer or successor who understands the value of the business.

Understanding the need to protect your assets means you will have seen to it that they are working and producing income, and can accordingly be used by the buyer or successor as soon as he or she takes over the business.

Understanding the need to protect yours assets means when you exit the business there will be limited write-offs for obsolete inventory and nonexistent or nonfunctioning equipment.

Understanding the need to protect your assets enables you to demonstrate to buyers or successors how you maximized assets and in doing so produced or created opportunities that will benefit them in the future.

Understanding the need to protect your assets gives you a clear understanding of how all the assets tie together and helps you give the potential buyer or successor a clear picture of what he or she is buying or taking over.

Understanding the need to protect your assets, and demonstrating that you have done so, gives both buyers and successors confidence in the internal structure of your business, as well as a “playbook” of its inner workings.

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