Nearly 80% of businesses will not sell. Today we’re discussing one thing you should consider to make sure you are in the successful 20%. Stay tuned.

Will my business actually sell?

 

Full Transcript:

Anthony Saffer 0:00
Nearly 80% of businesses will not sell. Today we’re going to talk about one thing you can do to make sure you’re in the successful 20%. Okay, so Alex, let’s start off with some facts because most business owners are inadequately prepared.

Alex Okugawa 0:15
That’s right. So approximately 83% of all business owners have done no formal written business planning, and approximately 49% have done no planning whatsoever. And the facts only get worse for family on businesses with approximately 30% only succeeding into the second generation. Now, other businesses that do sell Price Waterhouse, Cooper has released some information that basically shows that three out of four business owners within the first 12 months of sale, regretted their decision.

Anthony Saffer 0:47
Okay, so what should business owners be thinking about to make sure that they’re in the successful 20%?

Alex Okugawa 0:52
Yeah, selling a business can be difficult, but it doesn’t have to be impossible. And you can have success. Really, the way we look at this is there needs to be alignment between three main areas, personal, financial, and business. So your business could be ready for you to sell, it can be attractive, you can actually have your business be valued, and it’s going to be financially feasible for it to meet all of your financial needs and goals. But if you’re not personally ready, you’re not going to have a successful exit. What are you going to put on your business card when you’re no longer a business owner? Right for most people, they’ve been CEO, President owner for a good chunk of their lives, and it’s a part of their identity. And so when you take that away from them, they kind of lose who they are. So we have to reimagine what is this next phase of life going to look like for you?

Anthony Saffer 1:42
Yeah, and we’ve written a guide for business owners a complimentary guide to help you answer these critical questions so that you can be successful.

Alex Okugawa 1:50
Yeah, we want to help you maximize the sale of your business, ensure that you are personally and financially prepared and ensure that you are prepared for the next phase of life no longer as a business owner. Very good.

Anthony Saffer 2:03
You can go to our website one degree advisors.com. Download your complimentary business owners guide today.

DOWNLOAD THE FREE GUIDE TODAY

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