Many businesses have a best before date to transition. It may be best to sell before:
- Your industry changes too much to keep up with.
- You're too old to have a choice about transition anymore.
- Your competitors decide to attack and drive your value down.
- Your competitors make the move to sell first which can negatively affect your value.
- You realize your kids have their own lives and are not taking over.
- You finally see that your staff are never going to buy your business.
- You are forced to accept the fact that it will take years to get ready, sell and fully transition out of the company and you haven't even started.
Or when the Owner has the realization that they don't actually have an open ended time frame to sell. Your trusted advisors have been asking you to think about selling. So has your spouse or partner. But you steadfastly held them off. Oops maybe they were right. Tic toc.
But like 80% of seasoned business owners, you've been putting it off. As you hit your 60's and 70's you slowly realize you've joined the 70% of owners who don't have a transition plan.
After having spent decades building a successful business, you've walked up to the edge of the cliff with no option to go back. It's a one way trip. You need to cross and time is running out quickly.
The likely outcome from waiting too long is that you may not be able to sell for as much as you could today or you have to sell for less than you need. If something unfortunate happens to you what have you done to your family and their future?
And yes I'm talking to you.
If you're confused, frustrated or just unsure about
with selling your business, give me 15 minutes on the phone. I can me help bridge the gap and get you started along the transition path. No obligation other than a short conversation. You have everything to gain including a glimpse into the other side of the gap while learning about how to get there. And nothing to lose.