When you’re building a company, you’d do anything to help it thrive. But the best thing you can do for your long-term financial health is to become as inessential as possible. In short, you need to become a ghost.
It’s not enough for your business to succeed. You also need to sell it someday—and that means that someone else needs to be able to step in and run it without you.
How can you make your business more saleable? Step one is specialization: focusing on quality work in one field. Step two is diversifying your cash flow, branching out if any one client accounts for more than 15 percent.
Restructuring your business to make it more attractive to buyers might require short-term sacrifices as the business transitions. But the process will ultimately build value and require less work from you: a win-win.
To learn more on how to ghost your business, check out our Instaread on Built to Sell.