Small Business Focus

How thinking about selling your business will help you create a great one

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Do you want to build a great business?

Here’s a tip:

Thinking about the future sale of your business (when you start out, or even before that) will help you build a better one.

The Money Show’s Bruce Whitfield interviewed Pavlo Phitidis, Director and CEO of the Aurik Business Incubator.

Scroll down for quotes from the audio below.

94.6% of businesses never get sold.

Pavlo Phitids, Aurik Business Incubator

What’s the final destination of every single business? Sale or closure.

Pavlo Phitids, Aurik Business Incubator

About 30% of family businesses survive the second generation. Only about 3% survives beyond the third generation.

Pavlo Phitids, Aurik Business Incubator

Before you start a business you must think about what your exit strategy is.

Pavlo Phitids, Aurik Business Incubator

If you start a business with a view to selling it you’ll manage your finances very differently.

Pavlo Phitids, Aurik Business Incubator

No funder funds a business without an exit strategy.

Pavlo Phitids, Aurik Business Incubator

You need to build empathy for buyers just like you need empathy for customers.

Pavlo Phitids, Aurik Business Incubator

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This article first appeared on 702 : How thinking about selling your business will help you create a great one


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