Excuses Used By Owners to
Avoid Selling A Business
Let’s face it, as a business owner, you will one day leave your business, whether you like it or not. It’s bound to happen and, when that day comes, you will want to attain certain goals: above all, the most important, is financial security. However, not all owners will put a plan in place to attain that financial freedom. Here are very common excuses in which business owners use to delay a sale.
My business is not worth anything now. So, why should I put in all the work to sell it. However, if an owner is not growing the business, whether for a sale or just good business, then it is shrinking.
I will be forced to stay on after the sale. At times this is true, but, if there is solid management in place, the transition period is within months.
A willing buyer will pursue us when the business is ready for an acquisition. Fact of the matter, being passive falls short to getting top dollar for a business.
Many owners can't see themselves without being part of their creation. Their mere existence is attached to what they have created. And, this is why detaching from the business on an emotional level-FIRST-is paramount to a sell.
To start planning your exit only when the end is near fails to take advantage of a good exit plan and the advantages it offers. To sell a business requires building value and cash flow for the highest price possible. Ask any business owner who sold a business how important it is to plan, prepare and position a business for a sale.