By now most of you would know that I have recently sold my last Get Active Physiotherapy clinics so I can spend more time on other projects – such as Profit Club, One on One Coaching, speaking and my soon to be released “online education portal” for health professionals.
With the recent sale so fresh in my mind – I thought I would spend this email giving you some of my thoughts on the selling of businesses.
Let me begin by opening your eyes to the biggest realization you need to have about business ownership – and not just health business ownership – – this realization is:
“The Only Real Role of a Business is to Eventually SELL IT”.
I learnt this from one of my business mentors years ago and it really opened my eyes to what I was trying to achieve in my business career.
The statement really means that you need to think of your business as an asset that you are building, developing and nurturing – with the plan to – one day – sell it and then move onto another project – even if that project involves opening another similar business.
You may decide that your business is such a cash cow you will never sell it – and that’s fine – but in this case you have effectively decided to BUY IT – but is it worth the price.
Let’s think about the average small health business owner – they rent a space and start their business – but if they don’t start with the mindset of building the business, employing staff and leveraging their time for passive income – they actually don’t have a business at all – they have a JOB.
Can you see the problem? This small health business owner relies on their time and effort to make money – and is one of those businesses that is virtually worthless – because it relies on the owner to be there to make money.
Not a great place to be after 10 – 20 years of hard work – don’t you agree?
Now the “healers and carers” out there will say – “Yes – but I love my patients and love helping people” – and that’s great.
But you also need to be able to leverage your time and effort so that in 20 years time you can sit back and relax with some financial security
In my next post I will give you some tips on how to go about increasing the value of your health business in preparation for a great sale result.