Frank owns a service business that he built over 10 years into a 7-figure business.
Married with kids things were thriving as he turned 40.
He had education funds set up for his children, life insurance, and the whole nine yards.
His wife, Sally, who was in her early 30s, had given up her career when they had the first child was busy between school runs and everything in between.
That Tuesday morning she got up extra early to drop off Frank at the dock and she headed back to get the kids ready for school.
At 10:53 that morning her life changed with the arrival of the police cruiser on her doorstep.
There had been an explosion on the boat… Frank was dead.
The following days were a blur as she had to organise a funeral, deal with the children who didn’t understand why daddy wasn’t coming home and deal with the headache of handing her husband’s assets and obligations.
Then there was the business.
It was paralysed because Frank had been responsible for most of the day-to-day management.
There were no partners and the team in place could not take the reins.
Customers were fleeing out the door and some were not even paying their invoices.
A competitor came in offering to buy the business.
For the level of its hard assets, the furniture, equipment, etc.
$100,000 all in for a business that was averaging 4x that amount in monthly profits.
A business, that if he had made it an independent asset, would have easily fetched $10 million, given its numbers and performance.
And she was given 3 days to decide before they would pull the offer and the business, which was rapidly imploding, would collapse into the dust.
Sally agreed.
And Sally was left with the challenge of how to support her family because the business had not only been paying the bills but it had been the “asset” they tied their retirement planning on.
And it was effectively gone… sold for pennies on the dollar.
How about you?
Could you leave the business for 90 days or would it shut its doors? If it would shut its doors how much are your physical assets worth? Because that is the ceiling most likely on what the business would fetch until you make it into a true asset.
Which is what we show you how to do in any of our Sophiall solutions.
Find out more by clicking on this link and booking a free 30 minute session where I help you answer this critical question and provide you a free 29 page report and value estimate.
All at no obligation on your part.
——
P.S. I work with overworked and frustrated business owners who looked for help but received just empty promises and no results.
That’s when they find me. I guide them on exactly how to invest their time and money to transform their business and get the life they want.
Instead of just ideas and tactics, we discover together actionable insights that can be easily implemented to generate more money, make the business more valuable and position you to capture these life-changing opportunities.
But don’t take my word for it. Find out more by clicking my LinkTree to check out my different services and resources.