“Ten years ago a good friend of mine told me he wanted to sell his business. He said he wanted at least million bucks for it, to which I replied; For what? His whole business was in his head. I begged. I pleaded, I even offered to pay, If he’d Just get together with you and document all that process knowledge. I told him that without that the business was only worth the cash and hard assets – nowhere near a million bucks, maybe a hundred grand on a good day.
Wow, did he get mad. I almost lost a friend over that one.
Now the day has come. He’s had at least a dozen interested parties look at he business. Best offer: $75k. Thirty years of work and all he built was aloe He admits now that he should’ve taken my advise but for him was too late.
Documenting business processes helps create a business that works, but It also creates business value. Given the demographics, this is a major Why.
I wanted to share this story with you because It shows how Important The TouchStone Business System -literally the difference between a job and a business, success or “failure”.
Best to you – JB”