What You Need to Know When Asking “Should I Sell My Business?”
As a business owner, you’ll eventually ask yourself “should I sell my business?” The answer might end up being no, but every business owner asks themselves that at least once - if not multiple times. There are many things that lead up to that question. Maybe someone with a similar business just sold theirs. Perhaps you are ready to try to start a new business. It could just be that you are thinking about retirement and how to make that transition.
Whatever leads you to ask the question, that’s usually just the beginning. The floodgates of ideas end to open once you’ve started down that path. After you’ve asked yourself “should I sell my business or keep it?” you begin to ask other questions as well.
- “Will the company still operate or be broken down and sold off by the new owner?”
- “Am I letting down my employees and/or clients by exiting the company?”
- “What will I do after I sell?”
- “Can I get a fair price?”
- “Should I sell now or later?”
Questions lead to more questions - and often they aren’t the right questions. It also leads to a great deal of confusion when there aren’t readily available answers. If you don’t know what questions to ask, how can you know if you should sell your business or keep it?
At Raincatcher, we make it easy to start asking the questions related to selling your business. Our Exit Your Business With No Regrets webinar dives into the ins and outs of selling your business. Because it isn’t just about the money. There are many components that go into selling a business - many you probably haven’t even thought about. You can discover what those are by watching our webinar - just fill out the form below.
The Exit Your Business With No Regrets webinar tackles the many different ways selling your company can lead to regret. It may surprise you to learn that it isn’t just about the sale price! Bo Burlingham, the author of Finish Big, found that “many owners (who have sold) find themselves dealing with unanticipated regret, fighting with depression, and desperately in need of a new identity and sense of purpose.” There are many stories of owners who got amazing prices for their businesses but still had many regrets about the sale even a year later. While money matters, it isn’t everything when talking about leaving the business you built.
So, how do you get the best sale price for your company while avoiding the pitfalls of regret? That is what our webinar helps you to discover. In addition to talking about how sales can be financially rewarding, we talk about the ways to make sure selling your business is psychologically rewarding as well. It requires self-evaluation and forward thinking beyond just the sale and transition.
Marla DiCarlo, CEO of Raincatcher, and John Warrillow, author of Built to Sell and The Automatic Customer, discuss the ValueBuilder Score and PREScore - the two tools Raincatcher uses to determine if selling your business is the right move for you. The questions that make up the Personal Readiness to Exit (PRE) Score questionnaire are designed to help you evaluate your preparedness to exit your business and ensure you leave your company with no regrets.
This webinar details four drivers of a happy and lucrative exit when selling your company:
1. Future Vision - “What will I do after?”
2. Structuring Flexibility - “Am I realistic (and flexible) about pricing and transition strategy?”
3. Personal Detachment - “Can I put aside my ego and personal attachment?”
4. Team Involvement - “How will my team be notified and treated?”
We do a deep dive into these drivers in the webinar. We discuss what they mean, examples of each, and how they might apply to you. To learn more about these drivers and how they apply to your exit strategy, watch the webinar below!
At Raincatcher, we take a different approach to selling your business. We want you to be 100% satisfied. We want raving fans, not just happy customers. That’s why we created this webinar and use these tools - to make sure you are prepared for the “after” of selling your business. We go through these questionnaires and processes with you to make sure you have realistic expectations about the sale of your company. We aren’t just strategic in how we market your business, we are strategic in preparing you for all aspects of the sale.