Today, I was talking to a business owner, who had recently completed the “Sellability Score“. When asked why the business was to be for sale, the answer brought a sad, sigh from the owner; joint owner actually.
To explain, the tragic fact of the matter is that the husband has been diagnosed with cancer, requiring so many new and scary decisions to be made. What to do with the business is one of them.
Regardless of their decisions from now on, the shock of the outcome has shaken them to the core. They thought they might hang on to the business as it provides the cashflow but then, do they still need it? It’s also a business that has been around for a long time and for all intents and purposes, is successful. But, but, do they don’t want to give it up as it’s been part of their life for so long?
The conversation came around to there being only two true things you can invest in a business, time and money (thank you Robert Kiyosaki). When push came to shove, they really don’t need the money but of course they DO now want to hang on to the time…
So the decision has been made and the business will go to market.
If you were put in the same situation (heaven forbid), as at today, what decisions would you make? Could you make? If you don’t like the answer, and you still have time on your side, take a good hard look at your business and what you want to do with it, starting today!