Last time, I wrote about the important role that SDI – or Seller Discretionary Income – plays in a happy, lucrative exit from your restoration business. In short, SDI takes a number of factors and calculates, reasonably accurately, projected income for your business over a certain time period. This is good for the you, the seller, because it gives you a very good idea of how to price your business and allows you to make strategic decisions on how you invest in it while you prep for sale. SDI is positive for the buyer because it allows them to see exactly what your business is worth and what they should be prepared to spend to acquire it.
I also said there were two key things you can do to ensure a happy, lucrative exit from your business. Here, I’d like to discuss that second thing. Fair warning, it’s a little bit hokey.
A vision board.
Hokey is right, but listen, it works. I’ve used vision boards for a number of different businesses over the years. They can really help you visualize where you are and where you want to go.
Let’s take a look at what a vision board is and how you can use one to extract the most value out of your business at sale time.
Written by Gokul Padmanabhan
Gokul Padmanabhan has devoted the past 15 years to buying and selling businesses, much of that in the restoration industry. His partnership with Restoration Brokers of America strengthens his hands-on expertise with a national presence and infrastructure that is second to none.