Would You Buy Your Business? (EP 71)

In this episode Lauren recalls talking to one of her favorite humans, Tim Francis the other day and as two operational experts they were discussing how often operational health gets overlooked.It is very sexy to have a million dollar business. But you know what is sexier? Having a highly profitable million dollar business with not only good cash flow, but a deep cushion of “free cash” in the bank. Welcome back to The Biz Doctor Podcast, today’s show is something that is top of mind for me and sure to be a perspective shifter so let’s dive in. Something that Lauren admits that irks her to no end are the smoke and mirrors 7-figure businesses and launches that look good on the face, but when you peel back the curtain the behind the scenes is a different story. Some might say Lauren is on a mission to end this silly braggadocious way of thinking about business because, let's face it… there is nothing sexy or fun about living on the edge with your business and going through the doldrums or worse revenue roller coaster fretting about how to make payroll. Which brings us back to the question… what if we built businesses with the end in mind? The end being an exit. What if we built, ran, and scaled our businesses asking this simple question “would I buy my business?”It's a good question, huh?Personally, we love the question because it forces us to take off the emotional glasses we normally view our businesses through and instead makes it objective, and dare we say vulnerable. Apples to apples. When you look at the team you have, the business's operational vitals, your profitability and balance sheet, and the kicker - YOU … if you were looking to buy a business, would you buy yours and pay a top multiple?-------------------------If you enjoyed this episode and it sparked something in you, please give us a 5 Star rating/review and share this with your friends and fellow business owners. Also, don’t forget to subscribe so you are the first to get notified when our next episode is live and ready for your ears.-------------------------Meet your host. Lauren Goldstein is founder and CEO of the award-winning and globally-recognized business consulting firm, Golden Key Partnership. Her clients lovingly call her “The Biz Doctor” (which also happens to be the way this podcast got its name). Her superpower is helping 7-figure service-based entrepreneurs uncover what is keeping them stuck in the trenches of their business, so that they can have more freedom, profitability, impact, success, happier teams, and can breathe a much needed sigh of relief.She’s been featured in Thrive Global, Huff Post, Authority Magazine and is a trusted expert to fortune 500 companies like Apple, Nike, and AT&T, among others.For more from Lauren, and to learn more about her signature diagnostic framework or how she helps business owners get out from under their businesses visit her website https://www.GoldenKeyPartnership.comYou can also connect with her on instagram (www.instagram.com/itslaurengoldstein) or LinkedIn (www.linkedin.com/in/laurenegoldstein)The Biz Doctor Podcast is produced by Story Studio Network. www.storystudionetwork.com/