- Fact: 90% of businesses with employees are family owned.
- Fact: 90% of businesses are not passed on to family members.
- Fact: 30% of business owners are older than 55.
- Fact: 50% of business owners will sell in the next 10 years.
Selling your company has an imposing sense of inevitability. Does that feel like a slow march to the guillotine, finishing the New York City Marathon, or just something very uneasy that's best avoided? Here's how most business owners decide what to do: WATCH VIDEO
One group of owners concludes that NOW is the time to sell their business because of life events – burn-out, retirement, health, new business ventures, etc. Their thinking is that their circumstances are more important than walking away from their business with a specified amount of money. They are focused on today’s value.
A second group of owners have determined that LATER is the time to sell their business because they want to walk away from their company with a specified amount of money, regardless of life circumstances or timeline. They will sell when, and only when, they believe they can achieve a certain price for their company. They are focused on tomorrow’s value.
Yet another group of owners are WAITING for an unknown “strategic buyer" to appear at some point in time and offer them a premium market value for their company. They have determined that their exit strategy in both time money will be determined by the buyer. They are focused on someone else’s timing and value.
And lastly, there are owners that NEVER consider selling their company. They have no exit strategy, and usually leave their company when forced (sadly) to do so by catastrophic personal or business events. Unfortunately, they are not focused on the value of their company at all.
If your strategy is NOW or LATER, these are good strategies, and we can definitely assist you. If your strategy is WAIT or NEVER, these are not strategies we recommend at all, and there is probably little we can do to assist you because the outcome in the hands of someone else.
Please call us at 832-932-2924, or e-mail so we can discuss specifically and confidentially how we can help you if you are a NOW or LATER. There is no obligation.