Module Five: Golden Egg - Student Elements
Selling the Business
See NOTE at the foot of the text below.
Let’s be honest, the main reasons we get into business are to have more time, control and money. (Hopefully, by implementing what you have learnt in the earlier courses you have achieved at least some of that.) But, shouldn’t a business be an asset? An asset you can sell for a (very!) good price? Surely, we don’t get into business just to close the door one day, and walk away…
In other words, growing the value of the asset we call our business is another reason we start it in the first place – no one starts a business without the ultimate aim of selling it. Selling it for a good price and (assuming we wait until then) having a comfortable retirement – having time, control and money to the full.
In this course, we look at growing the size of the Golden Egg – what you need to do, when you need to start, and the best buyers to find. In particular, we cover the importance of documentation and systemization.
We also look at establishing a retirement plan – so you know what minimum selling price you need, and we cover managing your exit.
Just think of the peace of mind having this Know-How, and implementing it, will bring – let alone the additional cash!
Who Is The Target Audience?
We want everybody to do it! Seriously! The course is designed for:
- Students (high school and above, if not earlier)
- People in the workforce, and
- People wanting to get (back) into the workforce.
After all, anyone could end up owning a business – and everyone who does so ends up selling eventually.
Why This Module?
The majority of people end up working (for money) within an organisation for which numbers / performance are important. For most people this employer is a business, and a significant number of people end up owning one themselves! Yet, in spite of this, schools do not teach anything about business. So, most people end up not knowing what a business should look like, how it should work, or what functions are necessary within a business, let alone how to grow the business, or how to exit the business successfully.
This module, which follows on from earlier modules, is a start in changing this. It’s a start in making people more able to manage their business, more able to strengthen it to deliver better results, and more able to exit the business well financially.
How Does It Work
How Long Will This Take?
It depends how hard out you want to go. But we envisage you should be able to get through the module in around ten hours total.
How is the Course Structured?
The module includes a number of KnowHow papers, with accompanying Quizzes. You then move on to Examples, followed by parallel Exercises. We cover the need to grow your team, doing the business housework, preparing for what comes next, staging the exit, and more.
What Do I Get?
You get a login to enable you to access:
- The PDFs of:
- The KnowHow papers
- The Examples
- The Exercises
- The Exercise Answers
- The Quizzes (and their answers), which are hosted online.
PLEASE NOTE this is the Student Elements version of this course. As such the Answers are not included.
Crystal Paine - Money Saving Mom
"I never really understood the why behind many of my tasks. While working through this program in preparation for my daughter, I was able to gain a better understanding of the why behind how I do things, such as; balance sheets, fixed assets and depreciation. With this new understanding, I am able to do my job much more efficiently. This in turn makes me a more valuable asset to my company."
I have worked in a variety of industries – from retail to printing, an international airline to a government health enterprise – and in organisations of various sizes – from global engineering giant to boutique accounting firm.
My roles have encompassed financial and management accounting, company and tax accounting, finance and operations management. My focus has always been on improvement – processes, my role, results – whatever I could do to contribute to bettering the organisation.
I’ve worked closely with Medical Professionals from various specialities, Engineers, Logistics professionals, Printers, Manufacturing specialists, Retail gurus, and clients from all over the spectrum – and, yes, I’ve tried to make things better for all of them.
StartBegin At The (Very) Beginning (0:11)
StartBefore You Start I (0:09)
StartBefore You Start II (0:09)
StartFirst, Document Your Secrets (0:13)
StartWhat Should The System Documents Include? (0:07)
StartTwo Plans, Not One (0:07)
StartA Tale Of Two Successions I (0:08)
StartA Tale Of Two Successions II (0:07)
StartBut, Wait, There’s More (0:09)
StartThe Process (0:10)
StartThe Candidate Within I (0:16)
StartThe Candidate Within II (0:08)
StartAfter It’s All Over (0:09)