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In Episode 128 of the CAS Podcast, the hosts introduce a powerful mindset shift for revitalizing a stagnant or struggling custom apparel business: look at your company as if you were about to buy it. This episode walks listeners through how to use this “outside perspective” to uncover areas of weakness, identify growth opportunities, and ultimately make your business more profitable and appealing—whether you actually plan to sell or not.

Why Think Like a Buyer?

Seeing your business through the eyes of a potential buyer forces you to focus on value. It removes emotion from decision-making and helps you spot inefficiencies, missed opportunities, and red flags that might be holding your business back.

The basic premise? Everything you do to make your business more appealing to a buyer also makes it a stronger, healthier business for YOU to run.

Step 1: Prepare to “Sell” Your Business

Even if you’re not planning to sell, going through the motions of preparing for a sale will shine a light on the truth of your business health. That includes:

Organize Your Financials

Gather your income statement, cash flow report, and balance sheet. Understand:

● How much revenue your business generates

● Your monthly cash in vs. cash out

● What you own vs. what you owe

Collect 3 Years of Tax Returns

Especially important for sole proprietors. Tax filings offer a reality check against what you think you’re earning.

Evaluate Your Assets

List out your equipment, tools, and inventory. Assign actual value to each item. If you have any contracts or recurring revenue, include those in your valuation—even though they’re tougher to quantify.

Research Comparable Sales (“Comps”)

Look for businesses in your niche that have sold recently. What price did they fetch? What made them valuable?

What You Might Discover

This process often reveals eye-opening truths:

● You may find that despite your hard work, you’re not really making money. Or worse, your business is just funding your personal expenses with no real growth potential.

● Or you might discover that, on paper, you’re doing well, but poor financial habits or lack of visibility have left you feeling like you’re barely surviving.

The disconnect between actual financials and how your business feels is common—and fixable.

Take the Next Step

After your “mock sale” evaluation, it’s time to make improvements:

● Tighten operations

● Reorganize finances

● Reconsider pricing models

● Prioritize profit over busy work

● Start thinking like a CEO, not just a technician

By rebuilding your business to appeal to a buyer, you naturally create a more efficient, scalable, and satisfying business for yourself.

Read More

Want to go deeper into this turnaround strategy?

Check out the full article by Mark Stephenson:

T-Shirt Business Turnaround: Start Here