Why Would Anyone Sell a Good Business?

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Tuesday, June 10, 2008

Why Would Anyone Sell a Good Business?

This question was asked recently and some people may have a hard time answering it.

It is a valid question. There are lots of reasons. Some more common reasons are the morbid ones: death, divorce, health issues.

The one answer sellers give which many people have difficult with is “other business interests”.
It is entirely possible, and common, that some people just get bored with their businesses.

Haven’t you ever been bored with your job? Perhaps a better question would be: “Have you ever had a job you loved?”

Seller’s boredom is usually a result of them putting the business on cruise control for too long. They have lost their passion. They no longer look at their businesses and try to find ways to get bigger, better and faster everyday.

It is certainly a situation that a buyer can use to their advantage.

While you certainly want to dig in to the seller’s reasons for selling, don’t over-analyze the answer. It is far more important for you to focus upon whether or not there is a compelling reason for the sale that could impact the business after you buy it.

Specifically, are there any looming threats such as: pending legislation that could alter the business.

Of course there are many other possible scenarios which you need to investigate. Or, it may simply be the time has come to sell a business.

Skepticism, we believe, is one of the two most important characteristics that a good business buyer possesses. Use it effectively and not to paralyze you from buying a business, but rather to force you to conduct a flawless investigation and analysis.

The other characteristic is perseverance. Navigating your way through the business-buying process will have its ups and downs. It takes time and above all, it takes “know-how”. However, we can promise you that once you get to the finish line, and you own a good business that you can grow, all the nonsense you may have dealt with along the way will be a distant memory.

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Posted by Administrator on Tuesday, June 10, 2008

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