Knowing the answer to this question before finishing up could have a massive impact on your future. People are looking to buy businesses in Perth and beyond everyday.
The choice is tens of thousands, perhaps more to move forward with, or nothing.
Sure you could just be over it and want to close it down. You may think it could only get you a little bit or simply can't be bothered. The good news is it won't take you long to find out and you will love that you bothered when the money clears in your account. Don't be left wondering if you could have got something for it.
I have seen people close businesses down that could have sold for $80-$100k. They were over it. Now they are over it and minus $80-$100k. Others have sold businesses that were no where near the ones mentioned above for $10-$20k and moved into the next phase of their life with momentum.
Don't let exhaustion influence your decisions. It will compound the magnitude of challenge in front of you.
Story time - Jess and I recently sold her events business. When discussing it the few months before she was certain we would not get more than $10k for it. 'Is it even worth the effort to sell it?' Was her common question. This was a well established, profitable business with amazing goodwill via a strong social media following. We were exhausted, had just welcomed Lucy to make it two under two... 🤪😜
While we could not be more thankful for how lucky we are, the reality was we couldn't do the event business anymore. Jess loved that business. She still misses it. The temptation due to our circumstance was to close it down. Or maybe sell some of the inventory.
After a little convincing we prepared the business for sale. We went to market and sold for over 6 times what Jess thought we could get! That money has been amazing for our family. Jess worked hard to build a successful, strong business. And by realising it is an asset, selling instead of just shutting down, our future is actively blessed because of her former business.
Stop thinking that your business is different, wouldn't be able to be sold. The truth is it may not be. But, it also may be an asset that can be sold. It won't take long or cost much to find out. Don't miss out because you are over it. Lead your future now.
Either way, it is worth asking yourself, could your business be sold. It is possible that your small business could continue to help you and your family long after you stop working in it.
I will share more about your business as an asset and how to prepare it for sale in future posts.
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