Selling A Business Successfully Requires Help, And Plenty Of It
Selling your business is a huge endeavor and many business owners may only do it once or twice in their lives.
Whether by telephone or in person I offer the same few thoughts to every Owner in an initial conversation. Here are some of the key ideas they thank me for sharing.
The first thought I share with them is that 80% of transitioning their company is about what is going on inside their heads. What they are thinking about, what's keeping them up at night, and the realization that they don't know what they don't know.
Secondly, the world of buying and selling companies is no longer black & white and solely transaction oriented but many shades of gray. The old rules do not apply any more. This is a new unique generation of owners and for many reasons their worlds and the accompanying challenges are not the same as the ones their parents faced when they were this age.
Thirdly, most boomer age business owners do not know where to go to get good, business transition specific, guidance and services from experienced trusted advisers. Starting with, you do not know how much you need for retirement, no one does. Think that's the only advice you need? Boy are you in for a surprise.
And if the first three are not enough, there is money out there. Buyers are looking for good companies to purchase. They are asking for multiple, well prepared, quality businesses to purchase. And that is hard to find. They want good, profitable, well managed companies to buy. If you want to be one of the desired businesses we should talk.