Business Ready For Sale

What do Ski Jumps & Business Sales Have in Common

July 29, 2022 John Denton Season 2 Episode 2
Business Ready For Sale
What do Ski Jumps & Business Sales Have in Common
Show Notes

In this episode I tell my story of selling a registered training business I owned with a partner and how we got it all wrong and failed to sell. Then, with good advice and being better prepared, we were able to sell quickly, easily and got 20% more for the business.

When you start the process to sell your business, think of it as being like stepping out onto a ski jump. Once you get started there is no turning back. Emotions can take over and the momentum builds and life speeds up. If you are not totally prepared it can end in a mess. Like on a ski jump!

OK, in a business sale you can stop the process in the early stages. Once the contract is signed it is very difficult to stop. My point is that before you start the process make sure of the following:

  • You are totally commited to the sale
  • You understand what is involved in the sale process
  • You have a really good understanding of what your business is worth
  • You know what your dream sell price and minimum sell prices are
  • You have assembled your team
  • You have a plan for what you will do after the sale
  • You are prepared for the long haul - it can take a long time

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