How to SELL your Mother of a Business?
Or, in other words, how to get the hell out!
Assuming that’s what you think you now want/need to do…
When energy and interest for your business wanes, Business Owners like yourself sometimes think it’s easier to just shut up shop, stop trading, and literally pack the business away with the toys. Don’t be alarmed, it’s quite normal to feel like this is your only option.
Business goes through a LifeCycle like just like all else:
First, there’s the Birth and the excitement this generates.
Then there’s the Growth, with all its growing pains.
And then ultimately the Death! (or as I prefer to affectionately refer to it, Exit!)
Fortunately though, with your business, you can usually get to decide on the shape “Death” takes and the timing and structure of the departure of this dearly beloved.
Without fully investigating the value that has been built up over all the years, you may be potentially throwing away all your blood, sweat and tears, and not-to-mention, your hard-fought time and hard-earned money, for nothing.
Please let that not be you!
Usually this is done because you can’t think of what else to do that isn’t going to be either too hard and/or lead to more drama.
Yes,of course you could have done the old “Start with the End in Mind”.
However coming from experience, it’s really hard to do that without any context of what the “end” can be like.
Yes, there are still universal principles that should be used at start-up all the way through, which would have you in good shape when the urge to purge takes hold.
That said, even if you start getting your ducks in a row now, it can all work out swimmingly come Sale time.
I say that because having been through selling 3 of my own ‘Mother of a Business’ at various stages of their LifeCycle and sold many more on behalf of many other Business Owners, what I know for sure is that it is never too late to give your business the resounding Finish you always dreamed of.
After all, Business is NOT a Life Sentence,
even though sometimes if feels like it is…
The other thing I know for sure it that it is very difficult to find Someone to help you who “gets it”. Who has been there, done that in their own right, who can guide you in terms of both understanding what is being sold and why it is structured the way it is…
Interestingly enough for the sale of my own business #3 when I ventured to explore details on the number of women-owned businesses sold, how they did it, who they used etc, there was nothing! Nada! Nil! Naught! Admittedly, confidentiality rules (no doubt) but unless you personally know someone who has sold a business successfully, it’s really hard to even get to first base.
Why give Birth to a Business that knowingly just withers away to die?
Why give Birth to something that is not going to blossom into making yours, and the world at large, a better place?
Whilst there are now plenty of Business Coaches, Exit Planners and even Accountants touting their wares along the lines of knowing what’s required at sale time (although having never sold a business in the professional career), the bottomline is:
a) many still only think of business in its traditional form,
b) many still think that a growth strategy is an exit strategy (and it is so not!)
b) there are very few females in these sectors who “get” women-owned businesses,
c) there are even less who have experience in the art of buying | selling businesses and do it day in and day out.
So, based on my personal experience and anecdotal evidence from others, I’ve committed to taking up the mantle of being the “Exit Strategist and Business Broker of Choice” when it comes to selling all things ‘Mother of a Business’.
If yours is a business that does not necessarily fit into the mainstream “box” (especially if Online), then that’s the one for me, it’s what I specialise in.
You know that “box” the mainstream coaches, exit planners and accountants try and fit the owner and the business into, to make it easier for them to sell, supposedly…
How do I help?
First off, I talk to you.
Yes, I do.
We talk about where you’re at and what you’ve got and then we work out what the best next steps are.
Just email me with your contact details and we’ll arrange a time to chat (so you can plan to be not distracted and even out of the office).
If, on the other hand, you would prefer to start with an arms length review based on answering a few questions, then go right ahead. The way to do that is to complete the “So You Think You’re in Business Scorecard“…
Once reviewed, we explore options and work out the plan of attack!
Even if that’s not the case, at least you will know what you need to do.
Speaking of the “A” team…
Forget accountants, marketers and lawyers, you can buy their services as you need. Forget industry doyens and professional directors, they are unlikely to be anything more than a distraction to a small growing business. What you want as a small business owners is additional experise that can help you with one or more of the following four tasks:
- Grow revenues.
- Raise capital.
- Get the right people involved.
- Exit the business.
No. 4 has my name all over it!