When It’s Time to Sell Your Business? It’s Not All About the Money.
Entrepreneurship is not a get-rich-quick scheme
When it comes to entrepreneurship, the timeframes are rarely linear like our projected growth charts. #entrepreneurship is a marathon, not a sprint. And it requires time — typically years — to grow any business into something sustainable and meaningful.
The work is so interchangeable. You could be on the road to riches, or you could be nowhere.
It’s dangerous to believe that becoming an entrepreneur will solve all of your problems, when it won’t.
Don’t believe the people who tell you it’s easy. The work is hard. But it’s so, so worth it.
The reason so many entrepreneurs get in over their head?
They are passionate about what they do and work tirelessly to make their idea a reality. But when they start putting in hours of work without seeing any real rewards, things can get overwhelming.
That is why it is really important to know why you started in business.
In all my years of working with business owners, I see 2 key reason that make a WHY to keep going past the early years of struggles.
1️⃣ You are passionate about the industry or cause….
2️⃣ You are excited about running a business
( for me it was both of the above each time in my 4 businesses ✌)
True story: less than 1% of entrepreneurs make it to the Forbes list.
But the successful ones never let setbacks break their spirit. Ask any CEO, about their first business venture that didn’t work out so well.
Bet you s/he has a great perspective on what it means to be resilient and to keep on going when the going get tough.
Unfortunately, many entrepreneurs don’t take the time to contemplate what they want from their business, whether it’s regarding profits, long-term business growth, or more importantly, lifestyle.
Most are caught on the entrepreneur merry-go-round, dealing with business issues, family, staff, banks and so on, and find it difficult even to plan this year’s strategy, let alone figure out whether it’s time to sell.
This includes having an exit strategy for your business.It’s never too early to start formulating a plan of action.
Selling your business for any reason is never easy.
But if you want to make the transition as painless as possible, it’s best to prepare in advance and plan ahead. We offer guidance on how to do everything from start plotting to execute a sound exit strategy, and everything in between.
I use proprietary AI software to show business owners the key areas that they can make massive improvements in their business and show them how this translates into a greater valuation for their business.