Today, I spent an hour or so with a Business Owner who couldn’t see her way out of her long-standing business, other than to sell off the stock, the stuff really cheaply through eBay or GumTree or some such thing. So we spent time bringing me up to speed in terms of what she had to sell and we talked through her options. By the time I left, she had a complete change of focus and knew exactly what to concentrate on… and it had been under her nose the whole time.
But as you know, when you’re in it, sometimes it’s really hard to see what others see.
It’s really hard to see what others will value. Especially if the stuff has been a part of your life for a long time.
Given the business is in a dying trade, the value of what was once regarded so highly is no more.
Very sad really because once the gems of this trade are gone, they will not be able to be redeemed. The collective memory will die out with the current memory holders, which is happening already.
So with that in mind, she was prepared to throw caution to the wind, advise that there will be a Sale on a particular date and take whatever eventuates. Now, for 80% of the stock, this will probably be the right course of action. As for the remaining 20%, there is Gold in that stuff!
Sometimes, it doesn’t make sense to try and hang onto the whole if some of the parts are worthy of full-blown lights, action, camera. If marketed to the right buyer, the valuable items should fetch a handsome sum, negating the need to do too much with what’s left.
What have you got in your business that would be deemed valuable to others, even if not to you?
Where is the Gold worth mining?