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.
Weâ€™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 itâ€™s time, will you sell your company? How about when itâ€™s not your time, but itâ€™s the buyerâ€™s time to buy a company just like yours? Will you pull the trigger and sign on the bottom line?
Over on one of the LinkedIn Groups Iâ€™m part of, there is a debate going on about who should lead the charge to help business owners with their exits.
Tim Ferriss ofÂ The 4-Hour Work WeekÂ fame, challenges business owners to get out of their â€˜trapped lifestyleâ€™. He teaches that the key to being rich is to escape the 9-5 routine and reinvent how your work gets done.
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