Over on one of the LinkedIn Groups I’m part of, there is a debate going on about who should lead the charge to help business owners with their exits.
Did you know that 90% of business owners fail when attempting to sell their companies?
I am always shocked when I speak to a group of business owners about how to increase the value of their companies before they sell, at the reaction I get when I reveal to them the following statistics:
I spoke to a group of Investors and their investee companies this week.
Lately, I’ve been asked how we know what we know about making a business saleable. It’s not a well-known concept. But when we describe that it is all about making a company attractive to the next owner and transferrable, the idea makes logical sense.
Do you know that in survey after survey, the spouse of the business owner is the most sought after source of wisdom in their inner circle. You are the person they most like to talk over their issues about the business. You have influence and power. Your words have weight, whether you get acknowledgement for that or not.
It can be hard for an owner to evaluate whether to sell and when to sell or if the company can be sold. But if you are counting on the proceeds of that sale to fund retirement and have less than $ 1million put away, then you need to know some facts.
Here is a safe bet:
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