How to avoid regretting selling your business
3 in 4 business owners regret exiting their business one year on. It’s shocking that so many people make the wrong decision. So why do so many people wish they hadn’t sold their company and, more importantly, how can the rest of us avoid regret when selling your business?
Why do 75% of business owners regret their exit?
Business owners are human. We sometimes make hasty decisions based on heart or head. We may rush sales for family, health or financial reasons. We can be unrealistic in our expectations and fail to explore all the options available, resulting in 95% of owners being unhappy with the net proceeds from their exit.
This is why it’s sensible to enlist the services of an independent broker to help you navigate the practical and emotional aspects of selling a business. In our 17+ years’ experience as business brokers, we see four key areas where a business exit may fail to satisfy. Here’s a summary of each and our tips on how to avoid them.