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A “micro” is any business that turns over less than $250K a year, so the business I sold this week most definitely falls into that category! Instagram, it was not. So, in celebration of the HUGE gap between the sale price of my business and how much Instagram's Kevin Systrom made last week, here are three things I learnt from selling my micro-business.
Redundancy is rarely a word you want to hear. However, for business owners, it should be considered a word of great positivity. Being redundant in your business means you are free from dependency; in fact, plain free. Think of all the inane tasks we do because we think we are the only one that can do them “properly”. Yet, most tasks can be delegated; it’s just our ego that often gets in the way of being free of them.
Pointers for maximising value when selling your business Getting the best price when selling your company is a little like selling a property or vehicle...