Owners: How do you help future buyers?
I get asked a lot how I’d avoid the mistakes of my first acquisition. Clip below is from Built to Sell, talking about the thing that actually pushed me into building what I'm building now.
I learned that older owners rely on knowledge that’s usually never digitized. One of our clients had someone retire after a full career there and the replacement had only been on the job a couple months, so all that operational knowledge left when that senior employee left.
Because of my experience, I build dashboards that consolidate old-school data. I take everything an owner had (their emails, timeclock records, books, SOPs, whatever's written down) and turn it into forecasts and visualizations for new owners. This is what I would’ve wanted when I signed an LOI, so I made it.
So for the owners out there who’ve made it to the other side of buying a business: do you do anything for hopeful buyers?
Curious what else this community is working on.
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