Business Owners: Do You Have A Business Or A Practice?

Business graphs

Business graphs

Are You Building Something To Sell?

Or do you have practice or a hobby?

Many people tell me that they want to sell a business. In reality after asking some pointed questions, it often turns out that they have a practice or are simply “self employed”. They have a job working for themselves.

So what’s the difference between a business and a practice? Putting it simply, a practice is based around an expert (practitioner / tradesperson) and a business is based upon systems! A business can be thought of as a commercial, profitable enterprise that runs without the business owner having to be there. A business can be sold but a practice can’t. Well, a practice can be sold but usually only to another practitioner.

So do you have a business to sell or a practice / hobby? The acid test is “Can you go away for a month or more on holiday and the business still runs without you?”

Many business owners build their business around them and make themselves indispensable. This means that not only is the business ‘unsaleable’ but also that the owner cannot take holidays or have a life as well as a business. Typically the business owner is always “on call” for the business either to customer demands or staff if there are any. It doesn’t need to be like this.

Contact me for help to turn your practice or business into a saleable asset – a business that you can sell at the best price, quickly and easily, any time you want to.

I work with business owners on a one on one mentoring arrangement or in business owner mentoring groups that I have been facilitating since 2008. For more on what I do you can go to THE BUSINESS GROWTH PROCESS

If you would like to just have an informal chat then please BOOK A TIME TO CHAT

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John Denton

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