It happened so fast. No one took it serious. Unfortunately Gene Friedman got run over and didn’t even see it coming.
It’s a subject no one wants to talk about, but one way or another, it is 100% guaranteed you will leave your business.
As a business owner, you need to be prepared when opportunity strikes.
The two most common reasons owners sell their business are…
Here are the 3 most important questions to help get you started on the right path.
For many small business owners the most important thing they don’t know about their business is how much it REALLY is worth!
Business owners have lots of questions when it comes to selling their business.
Here are the ones I hear most frequently and ones that you should get answers to before deciding to sell your business…
While everyone THINKS they know how the process of selling (or buying) a business works… the truth is:
1. The motivation to BUY a business is seldom money.
2. The motivation to SELL a business is seldom money.
In Harvey McKay’s great book he tells a true story about a Professor Bonk (who taught chemistry at Duke University) to illustrate an important point about ethics and integrity.
First, integrity is always right.
Second, dishonesty can be a very risky business.
There are some things in life that take time, no matter how much you want to rush them.
10. Business buyers don’t really know what they want to buy, but as in art, they will recognize it when they see it.
9. Buyers are overwhelmed with opportunities and don’t know how to separate the good from the bad.
Sure, we’re all busy.
Even 12 year-old kids talk about how busy they are (well, maybe they text how busy they are!). Business owners are no different.
But it is fascinating to learn the thoughts that keep them up at night are shared by most other business owners.
For your business to be desirable to a buyer, there are 8 key questions that need answered:
1. Does the BUYER have the skills and knowledge to improve the business?
2. Does the BUYER have the financial resources to buy and run the business?