That’s because most service businesses are started by someone with a specific skill and it does not grow beyond that person.
Maybe you’ve hired a few people, but the clients still want to deal with the most knowledgeable person in the company – and that’s probably you…
So when the time comes to GET OUT, you may think you’re left with nothing. If you’re one of the luckier ones, you may get approached by another Professional Services group who offers to “buy” your business — but you may not actually get a cheque.
And for some, that might be just fine. It may be more important that their clients will be looked after, especially knowing the transition has been handled personally and they are still in great hands.
I get it!
Over and over I have seen and continue to see Consultants and Freelancers just pack their business away because they don’t really know what options they have and have not structured their thinking nor their business model accordingly.
So how do you escape the independent practitioner | consultant | freelancer services trap? The answer, in my experience, involves “re-making” your business; starting with the end in mind, regardless how old you’ve been in business.
It all depends on how you want to continue to HELP people, like you have always done. This is what I will be exploring over the next few weeks…
- Consultants, Freelancers; Will You Have a Saleable Asset When You’re Done?
- to Sell or Not to Sell is often the question…
- TEMpting; how Business Buyers and Sellers have been tempted this week…
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