I was having lunch the other day with an M&A Lawyer and and M&A advisor who sells businesses with EBITDA greater than $5 million. We were comparing notes about why business owners, especially the successful owners, are so reluctant to talk about exiting their business one day.
Leadership is an overused phrase. Yet if you own a business, leadership should be your sharpest tool in your kit.
We’ve all heard the empty and meaningless debate about whether leaders are born or trained.
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:
When it’s time, will you sell your company? How about when it’s not your time, but it’s the buyer’s time to buy a company just like yours? Will you pull the trigger and sign on the bottom line?
I spoke to a group of Investors and their investee companies this week.
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.
Tim Ferriss of The 4-Hour Work Week fame, challenges business owners to get out of their ‘trapped lifestyle’. He teaches that the key to being rich is to escape the 9-5 routine and reinvent how your work gets done.
You will be gone through step-by-step evaluation process that will discover both strong and weak sides of your business. In such a way you will have a second opinion, fresh look at the current situation and as a consequence you will be able to take necessary actions if you think those are good points to apply.
Every business owner should know if their biggest asset is saleable. Learn inside tips to improve your odds and test yourself.
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