Either companies grow or they are sold.
The hard question I need to ask you, “Is your business ready to be grown or is it ready to be sold?”
That’s a tough question and I really want you to think about it this way, I maintain that any business either has to be grown or it has to be sold. Now you may say that’s ridiculous, I can keep it as is. If you keep as is, your costs are going to go up, your competitors will be nipping at your heels and eventually it needs to be sold. God forbid into bankruptcy or to someone else with more ideas and passion to grow it.
That’s very easy to say, but everybody has more time than money or more money than time and this is one of the key determinants whether you want to stay around and grow or sell your business.
Now, the link below is a tool to help you determine if it’s time to double-down and grow your business or prepare for it to be sold, hopefully on your terms, for what you want and when you want.
This is a very personal question, but one that’s really going to drive whether you can take your business to 8-Figure Growth, or if you’re already there, you can figure out how to sell it at the best possible price and the right time for you and your business.
Grow or Sell – The Next Step
The second part of this exercise will help you determine if it’s time to grow or sell your business. The first exercise took you through a number of questions to assist in your determination.
Does it really matter why you’re staying on to run your difficult business? Is it out of choice or desperation? If you can’t sell it now, or don’t see an immediate alternative that pays you well and provides a similar lifestyle, then your business must improve and you have to do it.
So, what can you do and how can you get started?
Now, in this second exercise (Grow or Sell – The Next Step link) we’re going to take a look at what it really means if you’re going to keep your firm and grow or grow your firm with an eye towards selling. If you look at the exercise for the two choices, growing and keep or grow and sell, there are two additional boxes. Those boxes have to do with your role under each scenario, as well as those of your management team under each scenario.
I urge you to think about these questions, complete the exercise and you’ll be in a better position to think through whether to keep your firm and grow it or grow your firm with an eye towards selling it.
I’m Andy Birol and I’m here to help you achieve 8-Figure Profitable Growth.
Have questions and thoughts on how to do this? Contact me at (412) 973-2080 or firstname.lastname@example.org.
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