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Aired on June 2, 2020
Episode 43
To Sell or Not To Sell
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Deciding to sell your business depends on your passion, market conditions, and personal goals. Weigh the benefits of selling against the fulfillment of continuing. Seek advice, consider emotional impacts, and trust your instincts in your decision.

To Sell or Not To Sell

Hey there, fellow business owners and entrepreneurs! If you've found your way to this post, chances are you're grappling with a big decision: whether to sell your business or hold onto it a little longer. It's a tough call, and one that many of us have faced at some point in our careers. Whether you're feeling the pressure of competing in a tough market, or you're simply ready to move on to new opportunities, deciding whether to sell or not to sell can be a daunting task. But fear not, because I'm here to help guide you through the process and make the best decision for your unique situation.

The Case for Selling

When To Consider Selling

You may want to consider selling your business if: - You've lost passion for your business - The market conditions have changed significantly - You've received a compelling offer - You're ready to move on to a new venture - You need a cash infusion for personal reasons

The Benefits of Selling

Selling your business can offer a range of benefits, including: - Financial gain - Relief from the pressures of running a business - Opportunity to pursue new passions or interests - Cash for retirement or other personal goals - Potential for growth with a new owner

The Case for Holding On

When To Consider Holding On

You may want to consider holding onto your business if: - You still have a passion for what you do - The market is showing potential for growth - You have a solid plan for the future of your business - You're not ready to let go of the control and autonomy

The Benefits of Holding On

Keeping your business can also bring about several advantages, such as: - Continuation of a fulfilling career - Potential for future financial gains - Legacy building and impact on your community - Maintaining control over the direction of your business

The Decision-Making Process

Assessing Your Priorities

Before making the decision to sell or hold onto your business, take the time to evaluate your priorities. Ask yourself: - What do I want to achieve by selling my business? - What do I stand to gain or lose by selling or holding on? - How does my decision align with my personal and professional goals?

Seeking Expert Advice

Don't be afraid to reach out to professionals for guidance. Lawyers, accountants, financial advisors, and business brokers can provide valuable insights and help you weigh the pros and cons of selling or holding onto your business.

Consider the Emotional Impact

It's important to acknowledge the emotional impact of selling your business. Be mindful of how the decision may affect you personally and take the time to process your thoughts and feelings.

Making The Leap

Taking the Plunge

Once you've weighed your options, sought advice, and reflected on the emotional impact, it's time to make a decision. Trust your instincts and have confidence in the choice you make.

Embracing the Next Chapter

Whether you decide to sell or hold onto your business, embrace the next chapter with optimism and excitement. Look forward to the opportunities that lie ahead and be proud of the journey you've taken.

Conclusion

Deciding whether to sell or hold onto your business is a weighty decision that requires careful consideration. There's no one-size-fits-all answer, and what's right for one business owner may not be right for another. Remember that whatever you decide, it's essential to feel comfortable and confident in your choice. Seek advice, trust your instincts, and embrace the future with open arms. Good luck, and may your decision lead you to success and fulfillment!

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Biggest Takeaways:

  • Having a business means you have money coming through the door. It is enough and sustainable to pay you, pay your taxes, your expenses, your team and anything else that you need in your life and business.
  • When you make the decision to sell, you are in service 1000% with the thing that you are here to serve and do for your people.
  • It’s not a bad thing to sell. In fact, your business requires it. If more people had the essential sales skills and did it in a way that felt good for them, we probably wouldn’t have as many businesses struggling right now.

Highlights:

  • How my friend had an idea for her hairdresser to run her hairdressing business remotely [03:12]
  • The #1 thing that is preventing you from doing the thing that you want [06:36]
  • How to decide to sell or not to sell [07:29]
  • Why the doors are generally closed for all of the ways that you can work with me right now [09:25]
  • My tip on how to not feel sleazy when you’re selling something [10:55]

Bonus Resource:

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Join Sell With More Ease:

If you’re done with wasting time on tire kickers and desire to increase the closing rate on your sales calls and get your dream clients to work with you so that you can grow and scale your business faster than you ever have, click here to join the waitlist for Sell With More Ease and be the first to know when doors open!

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