Story six – The story of Artie and Josh
Josh and Artie were competitors – well known in their industry, known to each other as well.
Arties’ Business was the superior business. In almost all Indicators, Josh came a poor second.
Josh wanted Artie to buy his business, Artie was keen, and we undertook the due diligence on his behalf – Our opinion was not flattering, and the price we suggested reflected that. Josh was asked directly if he would buy his business in the state it was in, at the price he was asking. The response was an honest and swift “no” – however he held out that this was a strategic acquisition by Artie and that fact made it so much more valuable to Artie.
The purchase never occurred, within months Josh simply shut up shop and Artie acquired the clients within a twelve-month period anyway.
The fact is; buyers’ do their research, good businesses in a segment have value but, poor businesses in that segment do not.
So; Have you thought about selling and do you know what year that might be?
If the answer is “Yes! I am thinking about it” then the time to start preparing for that exit has come.
Do you know what your business is worth? Is it sale ready?
Create some urgency by first assembling your team – people with the experience, and know how, with business wisdom and the ability to understand the issues and how to help you get WHERE you want to be WHEN you want to be there.
Are you concerned about how businesses sell in today’s market and do you know what is in store for you?
Knowledge of the process is important; but, being prepared is vital.
Selling a business is a full-time job, it’s what we do and we would like to help.
