A recent client meeting I had prompted me to share this experience. My client was obviously frustrated by their inability to convert growth into wealth. Faced with the prospect of courtship by a potential purchaser who would have been an excellent fit, the client was intially excited about the opportunity. But the suitor failed to achieve the client's expectation of value. Simply put: the buyer could not justify the asking price. By all accounts the value was there, but mostly invisible to the suitor.

My challenge was to motivate the client to work on the business as opposed to work in the business. This means making an investment to achievethe resultant success. Unfortunately, when we say investment the client translates this into cost. I had to demonstrate the value clearly.

I explained to them, "You need to become investor ready." In other words, a business must prepare itself as if someone could purchase it at any time. This entails:

• Identifying your hidden financial opportunity (excess working capital, low returns on capital, inconsistent cash flows, inappropriate margins)
• Structuring for success (developing the key business units and sound organizational and business structures)
• Creating visibility that the business will continue economic life without you and other key people
• Developing systems and procedures that show maturity beyond entrepreneurial stage
• Having a well documented strategic plan