I had the pleasure of speaking to a business owner in Toronto while I was away on vacation. It was just a brief consult done from a park bench in Brussels.
He and the other owners had become aware of a competing firm that had been acquired by a larger company and wanted to try to do the same thing.
The conversation centered around the best strategy… hiring an intermediary, hiring someone in-house to try to find a suitor, etc.
During this time, my client made a little comment about how he and the other founders of the company were working almost 16 hours a day and how they found it impossible to hire people to help them out.
I made this recording telling the story and how you can go about fixing it. Listen here (audio only on YouTube): https://youtu.be/9n68EuvNXfw
Needless to say, it is quite difficult to convince someone to pay money to buy a business that needs this kind of management engagement.
Proper businesses have structure, organization and everyone knows what they’re responsible for and what duties they need to get done. Without this, it’s impossible to grow and it sure does look scary for anyone looking at buying.
The topic was very apropos as I’m in the middle of creating my latest workshop; Building a Business that Someone Will Want to Buy. It’s going to be presented on October 18 in Moncton, NB and will likely become an online course.
To learn how I can help you sell your business yourself, visit www.HowToSellMyOwnBusiness.com
For a full education and help on buying a business, visit
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If you would like to hear from me weekly before anyone else, you can sign yourself up just to the left of this post. If you need my help with your project, give me a call at (506) 381-8416.
Do you live in the Maritimes? I’ve got workshops coming up on buying and selling businesses in the fall. Book now http://davidbarnett.eventbrite.ca
Thanks and I’ll see you next time.