Your business that you poured most of your time, energy, and money into it for what may seem like forever is something you’ve created. You’ve nurtured it since inception. And, you’ve watched it grow up into something beautiful.
To many entrepreneurs, selling your business is like selling your kid.
Now someone else has come along and they want to take that little baby from you, and not give it back.
No one said selling your business to another would be easy. It can entail your hardest move. But, it can also be your best move. Here’s why…
Why You Should Sit Back, Sell Your Business and Let it Go Now
1. More Financial Independence— As entrepreneurs, many of us dream of one day trading all of our hard work for a big fat paycheck from an acquiring company so you and your family can be secure for life. It’s the stuff headlines are made of or the cover of a magazine showcasing me as a newly minted millionaire beaming with delight at my newfound wealth when I sold my assisted living center for an excess of thirty-five million dollars. Once you sell your business for maximum profit, the money is in the bank. Now, it can be invested wisely whether it’s in stock market shares or just safe and secure in the bank earning 5%.
2. More Fun– Most people want to retire or at least semi-retire. They want to move on and fulfill their lives in other ways. And they want to travel and see the world. As business owners who spend most of their time and energy on developing and building their business, it’s not very often where you’ll be in a position where you can travel abroad for 6 months. Or, go abroad for a year. Or, go travel around the world. When you sell your business for maximum profit, you gain time, independence and freedom. These are critical words to go and enjoy the fruits of your hard earned labor.
3. More Emotional Freedom – As a business owner you will face disappointments in business. There are setbacks. Despite careful planning, things don’t always happen when and how you want them to. You will suffer from feelings of frustration, fear and anxiety. I even know of business owners who have to drink Pepto Bismo, Mylanta or Maalox every morning and night to get rid of their nervous cramps and feeling of nausea. They live in constant terror of an uncertain future. They keep thinking although they’ve made great money in the last year, 3 years, 5 years or even 10 years but there is no guarantee about next month and upcoming years. Selling your business for maximum profit I one of the easiest ways to get rid off fears and anxieties brought on by the onset of owning your own business.
Now, the question is do you want to gain more financial independence, emotional freedom and have more fun?
If your answer is yes, then the time to start thinking about selling your business is NOW! You should not wait until you hit the magic age of 55, 60 or 65. The process starts way, way, way, way, way, way, way, way earlier than that. If you start early, you can get prepared. If your organized, selling your business can be a smooth transition.
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