Overcoming Business Sale Challenges: Insights from 500 Interviews
Summary:
In this video, Kerry shares insights gained from conducting interviews with around 500 individuals, shedding light on the top four challenges they face in selling their businesses. The first hurdle is the difficulty in knowing the accurate value of their businesses, as many tend to overestimate. The second challenge revolves around getting started and crafting a comprehensive plan for the sale.
Timing, determining the opportune moment to exit, emerges as the third obstacle. Lastly, the fourth challenge involves the struggle of disengaging from the business, as its saleability is hindered when the owner is deeply involved.
The video serves as a valuable resource for entrepreneurs by addressing common hurdles and providing a starting point for navigating the complexities of selling a business.
Transcript:
I’ve had interviews with about 500 different people. I’ve asked them about what their main challenges are and their main hurdles.
Number one is knowing what their business is worth. Most people have no clue, or they think it’s way up there. And in fact, it’s way down here. That was number one.
Number two was getting started and how to make a plan. Many have no idea.
Number three was the timing and figuring out when it’s time to get out of the business.
Number four was how to stop working in the business and on the business so it’s a business that can be sold.
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