Colliton

marily good will based on your unique skills and talents. It needs to have value or perceived value even if you are not around.

In “How Do Strategic CEO’s (and Owners) Work Themselves Out of a Job?” www.thiswayoutgroup. com, Kerri Salls made the point this way:

“When you want to sell your business, you want to command the highest possible value. For your business to merit the highest possible valuation, you must prove to the business appraiser and your prospective buyer that the value is in your business, not in you the owner…”

The skills involved in divesting yourself of your business are very different from the skills involved in startup. During startup, the business owner does anything necessary himself or herself to make it work. Here are the skills to sell.

“…1. Create systems for everything. If you have systems, make sure they are documented.

2. Delegate everything. When your business can operate day-in and dayout without your handson oversight, you have a money-making machine that will attract buyers. Identify the three things you absolutely love to do in your business and the three things only you can do. Delegate the rest…

3. Develop a succession plan throughout the company… If there is a plan to move employees up through the ranks or at least, in smaller companies, to assume greater responsibility over time, it should be much easier to transition your company when the time comes.

4. Plan for scalability….” Scalability means the potential buyer sees increased revenues without vastly increased investment of time and money.

Some business owners, when they have gone as far as they want to go with one business, decide to start over with a new one. “Serial entrepreneurship” allows new perspectives and can, if done thoughtfully, be a way to keep yourself fresh.

“iPipeline is a terrific company with clear niche market leadership, a history of strong organic growth, high customer retention, and a management team that will thrive as part of Roper. We look forward to supporting iPipeline as they execute on numerous future growth opportunities while expanding the benefits enjoyed by their large and growing network of carriers, distributors, and agents.”

— Neil Hunn, president and CEO, Roper Technologies Inc.