Feeling a sense of social responsibility is a common reason to sell your business when you still have energy to do other things that might be significant.
This could mean dedicating the rest of your time to an NGO, buying another socially responsible company, getting involved in public service, or simply dedicating more time to your family (through for example spending more time with grandkids).
Just because you founded or inherited a company doesn’t mean you need have to dedicate your entire life to it.
After many years doing the same thing, business owners can become fed up. Many have already made enough money to live comfortably for the rest of their lives and now they would like to focus on other things.
Two business owners came to see us and explained that after twenty years of doing the same thing, they wanted to sell their business and dedicate their energy to other exciting projects. One of them wanted to give back to society and spend his time in an NGO that he had started. The other one wanted to sell in order to devote more time to his true passion, his family. The sale also allowed him to have time for other things, like playing golf with his friends. The process of searching for buyers began, and some of the buyers demanded that the owners stay in the company for some time. We knew that this was not an option, as our clients already had other plans for their futures, we continued searching for buyers, and finally, we were able to find a buyer with a skilled management team capable of replacing those eight months after the acquisition.
This is very common. There are numerous owners that come to see us and explain how they want a change in their lives. They don’t want to become slaves to their own company.
@EnriqueQuemada
Book: How to Maximize the price of my company
www.onetoonecf.com
A very important revision for a company owner is when they have to sell. Waiting beyond an advisable time is a price deal reduction factor. To know how and when to sell is even more difficult than to create the company.