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you want to sell your business, or maybe you don’t really…

Circumstances will always alter therefore requiring different decisions to be made, at any given point in time.
Be that as it may… sometimes a business owner thinks they want to sell, goes down the path part of the way and then stops!

Can’t always explain why either.

In my view, that’s because they themselves are not ready yet. The business might be ready to be sold but the owner is not.
There is actually quite a transition process that needs to happen for a business owner to feel comfortable enough to let it go, especially if their business makes up part of their identity.

Business IS personal, most definitely for the small business owner.

Trying to bluff through and pretend it is not is to the potential detriment of not only the future of the business but also the future of the owner (not to mention the patient family…). To not work through the meaning to the business, and just as importantly, to the owner is where damage can be done, requiring so much more time, effort and energy needing to be spent…

Realising that it does take time to be ready to pass on the baton is part of the maturity of the business life-cycle. Practically, this process does make up a fair chunk of the exit strategy planning and equally as importantly, the exit execution.

 

Related posts:

  1. Why Retiring Business Owners Balk at the Idea of Selling Their Company…
  2. The 7 reasons why Business Owners sell the business…
  3. when buyers are sitting on a “gold mine” and don’t see how it can help them get out…

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