One of the most important lessons to learn in business is to keep your eye on selling your company from day one. You should make decisions based on selling your company down the road, not on what gets your business through the first day, month or year. I was recently interviewed on this very topic by Entrepreneur Magazine. The article  is called “Plan Your Exit Strategy: A guide to building an exit strategy into your business from the start”. When times are tough, there is often a knee-jerk reaction to choose the least expensive location or skimp on an good accounting system. Big mistake. You should create a lease that allows you to expand the business later. Keep immaculate financial records from day one. Most importantly, build your business following the five critical aspects everyday: profitability (to make money); competitive edge (to fight off the competition); sustainability (to survive the bad times); scalability (to grow your business); and culture and values (to have an outstanding company). Accomplish this and you’ll be ready for that big payday.

In this article I discuss what it takes to successfully negotiate the sale of your company after building and growing a thriving business.