Should I Sell My Business?
The 2017 Business Enterprise Institute, Inc. survey found that 57% of business owners wanted to sell their businesses. So what are the the key reasons why people DON'T sell their businesses:
Insufficient planning to shift confidently away from the income they earn from it. Lack of clarity regarding feasible exit strategies; and uncertain if key employees or family members are interested in running it.
How does it work?
Honestly it is super simple. You complete a transaction whereby over a period of time you transfer ownership to someone else (company or individual). For the transition and sometime after you continue working.
Why would I do it?
Very simple. Business owners get paid for FUTURE performance in a business sale. You might for example get:
5 Years of future profits in a sale; and Stay employed for a period of time.
So basically you make your life longer. If your business is good you might get a free 5-10 years of life back.
So what would I do after that?
Don't retire. Get your head in the new game and get a life. Running a business can be the best excuse for not doing all sorts of things from family time to holidays, sports to socializing. Don't retire to adjust your trajectory.
Start again, having learnt from your mistakes. Get a job. Work for "the man" leaving your stresses at the office at 5.30pm every day. Invest and incubate in other small businesses. Run a business for someone else
If you think this all sounds like hard work you are not in the mindset of running the business as an investment by you in yourself - try to make this change and get a return on your efforts.
If you are looking for any advice let us know firstname.lastname@example.org