Author of the book Buyable, Steve is a Business Coach who helps entrepreneurs and business owners to build a viable business.
He personally had the experience of having his own business, and when he decided he wanted to sell it, he found out it wasn’t “buyable”. He realized that he had become one of the key components to the sale, and he did not want to commit to this. His next stage was to empower his people to take on greater roles and responsibilities. He turned his business around after the 2008-09 crash, created a viable company, and consequently was able to sell his business. From this, Steve now coaches to ensure his clients not only learn the successful steps to take, he also to veer them away from the potential mistakes.
Steve shares several tools that assist in projections. Speaking to the “reverse engineering” model, he recommends business owners look to the future, to where they want to be in 20 years, and from there they can access the digital tool at https://www.magicnumbercalculator.com to find the “Magic Number”. You can also visit https://www.valueandgrowthcalculator.com to value your business now and into the future to give you the growth required to achieve your desired future goals.
Steve notes that “buyable” does not mean “sellable”. You don’t have to sell your business, however you want to have a business that is self-sustaining and successful. The buyability process is about self-actualization. It’s about soul searching and figuring out what you would be doing in your waking hours if you could do anything and having a rewarding experience.
There are 7 management concepts Steve shares with us on the Podcast. They are:
- Production – Execution
There are many more insightful tips shared. Be sure to listen to learn more.
You can reach Steve at https://tractionequity.com, https://www.buyablebusiness.com for the first 40 pages of his book, on LinkedIn @Steve Preda, and his books are also available on Amazon. Visit https://www.buyabletheassessment.com to answer 41 questions and you will receive a report on the 6 factors of viability.
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