Custom Apparel Startups

During this episode, we’ll walk you through how to look at your business with fresh eyes. Like you were BUYING a struggling or stagnant business, not running it. This kind of “outside” perspective can reveal both personal and professional areas for potential growth and lead to a better business. The basic premise is that everything you do to make your business more attractive to a Buyer will be better for your business! First: Getting ready to “Sell” your business – because in order to really evaluate where your business is and how it’s doing, you have to pretend you’re selling: Prepare your financials – What are those? An income statement, cash flow report and balance sheet. How much money you make, what cash in and out look like every month and what you own vs what you owe. Gather 3 years of income tax filings if you’re a sole proprietor especially. But even if not – do that because of what we’ll discuss below. Figure your asset value – What does your company own, and what is that worth? Equipment, invento