Surprisingly, not all founders think about selling their business. Especially while they have strength, pay dividends, and can’t raise their heads from the routine, the founder pampers himself with illusions: “I’ll own it until I pass it on to my children.” Usually, the question of the sale is actualized or when (rarely) out of nowhere comes a stubborn buyer, or when (more often) something went wrong. For example, because of irreconcilable differences, the co-founders turned into Montagues and Capulets, the owner burned out, the company’s growth slows down, and the economy goes into a dive. But when things are terrible, it’s hard to sell the company, and you can’t get a tangible sum.
On the contrary, it is possible to get the best price only if there is not one but a good number of strategic buyers fighting among themselves for the right to buy. This is only possible when your business is the missing emerald for their “crown”. They lacked your company to make the quantum leap. Notice that it’s not so much about your current financial performance as it is about the extra value that the buyer will create with your business itself. What sets entrepreneurs apart is their ability to put themselves in the shoes of another-a customer, an employee, a supplier, an official, a lender, and finally, the person to whom they want to sell their business.
You might ask, “What if he doesn’t want to?” You know, there’s an intergalactic difference between being forced to sell and having the choice to do so at any given moment. Isn’t entrepreneurship the pursuit of ultimate freedom? The wise founders I know regularly analyze whether their business is ready to sell and work systematically to increase its value from day one. When the transaction happens is not that important to them. But rest assured - the timing will be optimal, the deal is done on their terms and the highest price is paid.
And how ready is your business for sale?
Yours sincerely,
-Alexander
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”Who are you and what do you do?"
As a business therapist, I help tech founders quickly solve dilemmas at the intersection of business and personality, and boost company value as a result.
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