Sell My Business? Are You Kidding?
When I started our company back in the day (likely before some of you were born!) I was focused on survival. The first several years of running any new business are filled with lots of uncertainty. Where is the work going to come from? How are we going to deal with the ups and downs of demand? Who is going to get the jobs done? And so on.
As time went by and we achieved something that at least looked like stability I wondered what else was there in life that I wanted to do besides run a remodeling company. With the years passing and the company doing well in the good times and surviving during the down times, I realized that I did not want to do this forever.
Okay, so what next?
To give my wife Nina and myself some flexibility regarding our future we started to look at our company as the key to the future. While running it, we wanted to be able to accrue as much wealth as possible, so that we would have options that included not working or at least not working full-time.
Never did it cross our minds that we would be able to sell our company. Rarely had we ever heard of someone in our industry being able to make that happen. More often than not the “sale” was to current employees or family members with relatively low returns for the founder of the business.
However, we realized that to make as much money as possible while running the business we needed to work on the business as if we were going to sell it to someone from outside the company.
In doing so, we made our business sellable. And you can do it, too.
Want the complete details on how we did it?
Then you’ll have to come to the Mastering Your Remodeling Business Workshop in January. I’ll be giving away all our secrets. Takeaway and use just one of them and the workshop will easily pay for itself.
Image courtesy of smarnad at FreeDigitalPhotos.net