However, can one start and grow a business into a successful profitable venture in less than 24 months from the ground-up to the sky and sell one’s business for 5, even 10x the value of one’s business?
In the back of one’s mind, many entrepreneurs are thinking, “When should I sell my business in Ohio?”
Owners who ponder overselling their business do not always do so out of financial desperation or trouble but usually because they are looking for the next opportunity or to live a more free life.
Following are three reasons to consider a small business coach in Columbus Ohio when thinking about selling one’s business.
Mike Mausteller is an expert in Ohio business valuations, and he will be able to tell one what their business is worth in today’s climate. There is value in a business but no liquidity until one goes through a transaction of selling a piece or all of one’s Ohio company to a buyer.
Tired of risk:
In the early stages of a business, owners are more confident in taking risks, because they do not have much value in their companies yet to lose. Taking chances is essential and beneficial if the owner wants their business to grow beyond the initial stages. However, as one’s company grows, so does the value – and owners become more conservative fearing greater damage than when it was smaller.
It’s hard to trust others.
Owners who are older no longer have the luxury of time to spend years on damage control, fixing bad strategies, so they avoid those risky situations that could lose their company. Business owners should always be looking to exit their investments.
Not because the company may be in a bad place but because it is a smart business decision.
Time For Change:
Although a chance at liquidity is a good reason for an owner to decide it’s time to sell a business in Ohio, it may not be the only reason. After dedicating 15-20 years of time, energy, and resources into building a thriving company, CEOs and founders may find themselves ready for retirement, or an owner may be ready for some change and seek a new opportunity.
That could be motivation enough.
A good entrepreneur is always looking at their options going forward.
Time is always a risk, and the more time one’s business is out there, the greater risk one has.
Before one gets answers to ‘how to sell a business in Ohio’… as an owner one has financial goals one is continuously striving for and this applies to selling one’s Ohio business, as well.
Things to keep in mind when thinking of selling an Ohio business are:
Timing Of The Sale –
Getting one’s company ready to sell (audited financials, the right technology, a good executive team, and a great Ohio business coach, Mike Mausteller, etc.)
Finding The Right Potential Buyers:
Selling a company is not always only about getting the best price.
If the firm is entering into a deal in which they are only selling a percentage of their business and will continue to be engaged, then other kinds of factors are equally important as the price.
These factors include the caliber, the reputation, the references, the culture, the chemistry, and the trust of the private equity firm or another type of firm they are going to partner with.
The mindset of an owner utilizing small business coaching in Columbus Ohio to help one sell, should not be obsessing over the last few dollars of valuation but rather focused more on the quality of people they will be partnering with as a result of the sale. This is the biggest mistake business owners make in scenarios where they intend to roll over significant equity.
Remember, once the deal is done, one has to work with these people.
Make sure they are the right match for one’s company no matter what price they are offering for a piece of one’s business.
The Final Piece Of Advice:
Plan one’s exit strategy with Mike Mausteller, and be ready when the timing is right to pursue the company’s maximum value. Sell it on one’s own terms rather than the market’s terms.
Hopefully, one’s inspired to sell a business with the help of Mike Mausteller as one’s small business coach in Columbus Ohio!
Company Name: Buckeye Business Performance
Contact Person: Mr. Mike Mausteller
Email: Send Email
Country: United States