4 ms·
Having sold a couple of companies now I will put it to you this way. If you were to sell right now you are selling from a position of weakness, not strength. I
by davismwfl 10y ago
Having sold a couple of companies now I will put it to you this way. If you were to sell right now you are selling from a position of weakness, not strength.
If I was in your position and if you are just tired and want to do something else you need to get the business growing consistently again month to month. Maybe that means finding some fresh blood to bring in.
Another option is instead of selling, look into hiring professional management to take over and you drop back to advisor and chairman. Hold them accountable to grow the business. This means for some period the net income will obviously drop but it come back. Plus it may give you the push and distance you need to be able to help the business and yourself.
And of course you could just sell and try to maximize right now but it won't be as favorable since you are not in a strong position. But sometimes it is nice to just move forward and put cash in your pocket even if it isn't the highest amount you could.
Good luck!
- softwarefounder 10y agoThis sounds like great advice. Agreed on the "selling from a position of ...strength". Being able to point to a continually increasing MRR is huge. If I, as a potential buyer, see a decline in MRR [and customers], I'm going to try to get the company for a steal.
- Blackstone4 10y agoThe flip side is that the market segment he operates in is very popular and this might blind some less disciplined buyers. So if you focus on the popularity part you still might be able to get a good price. You have to be positive and down play the churn by saying that you haven't really been focusing on the company and that the new buyer can step in and make a difference....play to their ego....