What does it mean to build a sale ready company? There will be a time as business owners when we need to have an exit strategy for various reasons. It is not something many entrepreneurs and organizations plan for. That’s why I’ve asked Josh Patrick to join us today on A Life and a Living Podcast to help us better understand the importance of building a sale ready company.
Josh Patrick is an entrepreneur, consultant, and author of The Sale Ready Company, a how-to book disguised as a novel. The writing style is unique in that you learn the importance of this topic and strategies to be prepared through the fictional story of a family of business owners. Josh has such vast experience and a great depth of knowledge on this topic and in today’s episode we discuss how to plan ahead, how to create an attractive business to transfer, and through his practicality, we can learn how to move forward with less risk of burnout.
What We Talked About in This Episode:
- Josh’s Personal and Professional Background
- The Two Equally Important Sides to a Business’s Sustainability
- Personal Sustainability: How Are You Spending Your Time at Work?
- Economic Sustainability: Is the Business Profitable?
- Work Life Integration Rather Than Work Life Balance
- What Makes a Business Transferrable
- The Importance of a Planning Process
- Reflecting and Adjusting Plans
- Important, Urgent, and Non-Urgent
- Including Stakeholders in Planning Process
- Josh’s Coaching Owners with an Exit Strategy
- Making the Client the Expert in an Engagement
- Josh’s Book Recommendations and Daily Rituals
About Our Guest:
Josh Patrick is a serial entrepreneur who has been obsessed with what makes businesses successful and ultimately personally and economically sustainable. In his forty years running, owning, consulting and working with business owners he’s seen almost anything that’s possible with privately held businesses..
Connect with Josh Patrick:
Links and Resources:
- The Sale Ready Company: What it Takes to Create a Business Someone Would Want to own, Even If You Have No Intention of Selling by Josh Patrick
- Josh Patrick Elevate Website
- Josh Patrick on LinkedIn
Connect with John Murphy:
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A Life and A Living Podcast