The main reasons why people sell their businesses are:
- The business doesn’t make enough money
- The business takes up too much time to run
- The owner is getting tired of the business
- Business partners are not getting along
- The owner is over dealing with employee issues
- The owner is over dealing with their customers
Now, suppose most, if not all of those challenges are gone or minimised, would other options look just as attractive? Working “on the business” is an amazing thing. The business owner’s focus shifts slightly towards creating a well oilled machine, ensuring that fun is brought back into running their business in a modified way.
Soon, before they even realise it, business owners are doing more exciting things with their customers, employees, families, friends and on their own at grander levels than ever before. All of a sudden, they have worked towards having a business that works without them.
The question is, is it really worth selling something that produces income, allows time for the business owner to experience the freedom of flexibility and is much more fun? Well, everyone is different, nevertheless, my business coaching experience concludes that the most important driver for most of my clients has been to have the ultimate flexibility of not having to be at work and the business functioning just as profitably and without any hassles even when the owner is not there.