SELL IT will show you the journey you will go on to sell a business and how to be prepared so that you get the most from your life’s work.
The added benefits are that by being ready for a transaction before the transfer of ownership, you’ll have a business that is easier, more enjoyable and less stressful for everyone, including yourself.
There are now more businesses than ever before. More people are taking control of their own futures and starting out on their own. The dream of building something bigger than a job drives many business owners to take more risks to create a business that has long lasting value. The sacrifices that founders make are justified by the potential rewards when the business is eventually sold. But there is a horrifying statistic that many business owners turn a blind eye to:
80% of businesses that are attempting to sell do not get sold.
As the majority of business owners only ever sell one business, they are often ill prepared. As is their business. Preparation for the sale process starts with understanding the process and the position of the buyer. Knowing what the buyer is looking for and how it affects the value of the business means the seller can get on the front foot and be ready for the final negotiation and ultimately the contract for the sale.
Your business will also be worth more!
Starting and building a business is hard. It’s risky. It takes a special kind of spirit to take the leap from a salaried corporate job into the challenging world of entrepreneurship. The first few years are usually about working as many hours as you can, chasing the essential customers and getting positive cash flows.
The founders’ expertise is in the product, service or invention. Running the essential business support services is often a secondary consideration with daily “fire-fighting” becomes the norm as the business grows. Strategic planning also takes a back seat.
With there being so many businesses and owners busy building their businesses, there will be more businesses for sale in the future. And if 80% of all businesses do not have a possible buyer, then a lot of business owners are currently investing a lot of time, effort and their own money in an asset that has potentially no long-term value at all.
If you knew your business was going to close its doors when you retire with little or no capital value, would you be making the same decisions today?
How much is your business worth today?
How do you know? And what can you do to change it?
The sad fact is that more business owners will leave their business before they are ready in a response to either an unexpected offer or an unplanned event such as death, disability, disease or divorce. In these circumstances the value of your business will be affected unless it is fully prepared. Business owners are forced to respond to these events on the back foot. And if you are reacting, you aren’t leading. You will get less from your business than it is otherwise worth.
Even if you are selling your business proactively, most business owner only go through the process once and often have no idea what to expect. The process of selling a business is often shrouded in mystery. And it should not be.
In this book you’ll be guided through the process of Sell It
Including the pre-sale preparation that will ensure that you get the best value for your life time of work. From start to finish you’ll be shown the essential critical path that business owners follow when successfully selling their businesses. Every step will be explained and exposed so that you go into the sale process with more knowledge and understanding. Result? A more enjoyable experience for you, your business and all the stakeholders.
Are you ready to sell? Click here to contact Christine by email alternatively you can book a call with the Business Mentor of the Year 2020, author and speaker. Who helps business founders get their businesses exit ready so they can enjoy a happier, richer future. She saves them THOUSANDS and increases the value of their businesses by MILLIONS.
