Thinking About Selling Your Small Business? Here’s Why You Should Start Now

Have you thought about selling your business? If not you should.

In this post I'm going to explain how preparing to sell your business is good for you, good for your team, your business and family.
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In the next post I'll share 7 key tips for making your business highly sellable and increasing it's value by at least 3x.
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​Although selling your business might not feel like a priority or even possibility at the moment, for your sanity you should start thinking about it today.

Take a moment to think about why you started your business and what you want from it?

Most of us start businesses for a combination of freedom, fulfilment and of course finances. 

Working for ourselves is much more attractive than taking orders from someone else and we know we can do a better job than most others. 

Business ownership creates a challenge though. The very business you started for freedom will inevitably start to consume you at some point.

A business is a lot of work. You might not mind all of that work when you start out, maybe not even for a few years. But at some point the novelty of working crazy hours is going to wear off and you'll start craving freedom.

This is natural.

At some point you're also going to find yourself questioning how all of the hard work and sacrifice you've put into your business is going to pay off? Your family/partner is probably going to pressure you in this area too as those sacrifices will have inevitably impacted them as well. 

If you can't see how it's going to pay off you're going to end up resenting your business with the thoughts of 'I'd of been better off staying in a job'. 

It's no secret that majority of business owners end up feeling like this and most businesses in the UK end up closing down.

The way that you avoid this common trap is by planning for and developing your business to sell.

Making your business sellable isn't complicated. It takes work but it's not rocket science. 

Honestly the biggest barrier for selling businesses is owner mindset. Most owners resist making the changes they need to make because they suffer from one or more of the following fallacies:

1 - This business can't work without me
2 - I'm letting my team down if I try and step away or think about selling
3 - Making my business sellable will be too hard
4 - It's hard to sell a business which is why most close down

All of these are incorrect.

It's like saying it's hard to be healthy then justifying that belief with the fact that most people in the UK are unhealthy.

It's not hard to be healthy, it's never been easier. The problem is it's easy to be unhealthy.

It's the same with your business. It's not hard to sell your business. It's easier now than ever before to systemise your business and find buyers. But it's easier to stay stuck in it as you are, doing the same thing every day feeling comfortably uncomfortable.

Look, selling your business is going to take work. Depending on where you're at it's probably going to take you 2 years to implement changes, build systems and start to attract the right buyers.

But with the right mindset that two years is going to be an enjoyable and rewarding process for you, your team and your family.

If this is something you know you need to start thinking about but have mental blocks, book a free 30 minute call with me or my team below.

We're not going to pressure sell you anything or guilt trip you into spending money with us, we'll just help you get clear on what's right for you and help you see it's possible.

If that leads to you wanting to partner with us and we're a good fit great! If not, no stress and a new connection in our networks. 

If you're ready to do this and your happy to go at it alone, check out the video below AND chceck out the post following this one that shows you the 7 key steps to making your business as sellable and valuable as possible. 

Thanks for reading,

To your success,

Mike