Most small business owners don't build their companies with the intention of selling them, but many would like to know that they could sell their businesses down the road.
During the second National Gay & Lesbian Chamber of Commerce® (NGLCC) quarterly teleconference call, John Warrillow, a serial entrepreneur and author who has started and sold four of his own companies, spoke to certified LGBT business owners about how they can prepare their own businesses when it comes time to sell them.
Warrillow says that to develop a scalable business, an entrepreneur needs to isolate a product or service that can continue to grow without his or her personal direction.
To determine whether or not a service can last once the entrepreneur has let go of the reins, three criteria must be met—the service must be teachable to employees, valuable to customers and repeatable over time.
Do you want to hear the above information and more from John's one-hour teleconference with NGLCC-certified LGBTBEs? Contact Jeremy Fegley, NGLCC certification specialist, at jfegley@nglcc.org or 202-234-9181 to learn more about certification, as this resource is available exclusively for certified businesses.
