In This Episode
Is your business ready? If the opportunity presents itself, is your business ready to be sold? Now, that doesn’t mean YOU are ready to sell. It’s a wonderful thing when those two things do align and both you and your business are ready to sell. Unfortunately, we often find that too many business owners are ready to sell but their businesses aren’t quite ready yet.
This was the case with our first business coaching client where two partners were having some struggles getting along and so they wanted to sell their business. The only problem was they were the business for the most part. If they were to sell there business to someone else, instead of being able to walk away they were going to have to stay on board for a few more years to transition things to other folks in the company. So they were faced with a decision, sell now and go to work for someone else for a couple of years OR get the business to the point where it wasn’t dependent on them and then sell the business. They chose option number two and decided to work on getting their business ready to sell.
When opportunity knocks you have to be ready or else it will likely pass by. We have been blessed over the past year alone that several of our business coaching clients have been approached with what turned out to be offers they couldn’t refuse. And while the decision to sell was very emotional and even agonizing to a certain extent, none of our clients had to worry about the business itself being ready to sell. It was more a matter of whether they as the owner were ready to sell.
During the show today we shared several stories about what it looks like for your business to be ready to sell so you as the owner can instead spend your time figuring out if you are ready to sell. And if you are ready to sell, what are you going to do next? As you might have already guessed, getting your business ready to sell is focused on MVP’s 7 Keys to Success.
People, Companies and Resources We Mentioned in the Show
MVP’s 7 Keys to Success (https://maximumvp.com/7-keys-to-success/)
Join Us Next Time
Join us next week when we will chat about where you are going with your business. More specifically we will focus on the importance of having a longer-term Vision that answers the question, “Why Am I Doing All of This?”. We can all get caught up in the “busy ness” of day-to-day activities in our business and if you don’t have a longer-term goal in mind it can be frustrating for you and your team to continue on when times get tough.