CHICAGO--Over the years I’ve seen many people with the opportunity to sell their businesses, but didn’t. The covid-19 virus is a good example of this. Before the worldwide pandemic, entrepreneurs had offers on the table, decided not to sell, and then went belly up.

So when should you sell your company?

According to business growth expert Robert Smith says,” The best time to sell is now.”

However, wanting to sell and being ready to sell are two completely different things. If you don’t have a great management team to run the company, you’ll sell the business with you having to be hands on.

Or, a large portion of your consideration (the money you receive) will be attached to your future performance in the company. You can only sell once you remove yourself from the operations.

Therefore, step one is to create a succession plan. Now, unfortunately it’s difficult to recruit good management to run a business. It’s very unpredictable. Hiring an employee to run your company is risky.

50% of the time, it works. 50% of the time, it’s a disaster and the business is destroyed.

So, here’s the solution:

Acquire or merge with another business that already has a great management team in place.
Why?

Because an entrepreneur like this already runs a business that looks like yours. So, they have the relevant, real-world experience you’re looking for. Plus, it enables you to step into a non-executive role within your company. So, acquire or merge with another business.

Then sell. Remember, you never know what’s around the corner.

From pandemics to Amazon getting involved, to Google doing it for free.

There are so many disruptive technologies coming to market right now.

Your industry could be turned on its head next.

For a free valuation on what your business is worth and to get offers from private equity groups please reply to [email protected]

Robert Smith of Robert Smith Communications is a leading expert and part of an investment group that buy companies in various industries doing at least $5 million in annual sales.

CONTACT: ROBERT SMITH 815-209-0025
[email protected]

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