How To Instantly Know When It's Time To Sell Your Company
by Walter Bergeron
You have not felt passion for your business in more than a month
The thrill of going to work is gone
You struggle to come up with fresh new ideas
You dream about what you will do once you will retire
You feel like you are being run over in your industry and you do not know how to stop it
Is this you... If you answered yes to 3 of the 5 above questions then it is time for you to sell your business.
There is no better time to hit the reset button on your life and start your next chapter than when your feeling burnt out and just tired of doing what you do.
Owning and running a business is hard work and when you start to run out of that strong passion for what you are doing, running your business will be like a big stick in your throat.
Passion is the fuel that keeps you going in the face of the harsh challenges that every business owner must face in the world of business.
And once you lose it, all the satisfaction and pleasure you get from running your business disappears as well. Once that happens, it’s time to sell your business and move on to something else that will provide you with the satisfaction you want.
Continuing to grow in your market absolutely requires constant change and consistent fresh ideas and this takes passion to keep creating day in and day out. This could be offering new and amazing promotional products or completely redesigning your image.
To implement new ideas consistently, you need to brainstorm often, and you need to have a large pool of ideas. There are times when you will be temporarily out of new ideas, but when this persists for a long time, it’s time to sell your business and call it quits.
It may be that you just don't get the same enjoyment and thrill out of doing what you do, maybe your starting to dread going to your office every morning instead of having that fire in your blood like you used to.
This isn't failure, what this is, is a big red flag that's telling you it's time to make a change and maybe that change is that you should start looking for a buyer for your business.
You can’t continue running your business forever. You will have to quit when age starts telling you that you can't keep going at the pace you've been going. For us business owners there isn't really an official retirement age. It's time to start that next chapter when you feel like it.
As a business owner, you have made more contributions to the nation’s workforce than most people ever do.
You have created jobs and strengthened your local economy and you deserve to take advantage of that hard work before it’s too late.
Whether you are quickly approaching the retirement age, or you just want to spend more time with your family, you know when it’s best to retire.
If your business is doing well, then that is the best time to cut ties and walk away with some much deserved dough.