Your New Business From Start to Sold!

By Chris Porter

Embark on a transformative journey from entrepreneurial inception to lucrative exit with "From Start to Sold." This concise yet comprehensive guide navigates you through every stage of business ownership, from crafting a compelling idea to negotiating a profitable sale. Learn to cultivate your concept, establish a solid foundation, scale your operations, and ultimately position your enterprise for acquisition. Packed with practical insights, actionable strategies, and real-world examples, this book equips you with the knowledge and tools needed to maximize the value of your business and secure a successful sale. Whether you're a novice entrepreneur or seasoned business owner, this book is your roadmap to entrepreneurial success.

• Language: English
• Publisher: Chris Porter
• Release date: May 13, 2024
• ISBN: 9798224386260

Book preview

Chapter 1 (Phase 1)

Timeline: Months 1 through 4 (approximately)

Starting anything from scratch is difficult. Order eases the difficulty, and a person starting a business needs a certain amount of order; creating timelines and outlines increases the odds that you’ll complete something by about 50%. More importantly, order can increase the fun quotient—starting a business should be fun! In fact, maintaining a business can be exhilarating, but order is necessary for that.

Entrepreneurs often have several ideas simmering at once—which is great for birthing serial business ideas but can lead to mental clutter. Order through processes is the way to declutter the details, and it can lead to continued growth and success for your business – keeping you sane and on track.

Small business owners/entrepreneurs often fall into two main camps; Big Picture Thinkers or Small Detail Doers.

Small Detail Doers. My personal belief is that as the leader you should be working on your business 80 percent of the time and in it 20 percent of the time. If this ratio is flipped, and you find yourself working in the business 80 percent of the time and on it 20 percent, you may be a Small Detail Doer, more focused on the minutiae of specific tasks than overall development. Here’s the problem with that; the big picture contains the purpose and mission of your business. It has to be cared for, and if it isn’t, taking care of only the small details will shrink the business. One of your targets should be to have your business run just as efficiently when you are not present. Life is full of the unexpected. Personal and business emergencies impact our daily lives, but they shouldn’t impact business operations (except in extreme circumstances and when they involve the actual business); your office should be able to efficiently function without you there for more than just a couple of days.

Small details can get you in the mouse on the wheel effect where you’re so wrapped up in day-to-day operations you don’t know what’s on your financial statement, which can be a catastrophe.

Big Picture Thinkers. Obviously, there is an amount of energy that needs to be devoted to small details so that bills are paid and things keep running, but the reason the majority of your focus needs to be on the big picture is because that’s how you keep your goal in mind. Your purpose. Creating organization is vital in the big picture and we do that by helping you discover your purpose in Phase One (if you haven’t already), and we do it in the small details by creating specific