What’s The One Thing No One Tells You About Selling Your Company?
You've just received a great offer to buy your company. Congratulations! You're about to make a ton of money if you accept the offer.
That's fantastic. But there's one thing you should understand before you close the deal. Watch this short video so you know what to expect.
Read The Video Transcript Below:
So what's the one thing nobody tells you about selling a business? So let me start with the positives that everybody tells you. You know, you make a lot of money, hopefully, maybe you can retire. You're set for life. That's the best case scenario.
But here's the thing that nobody tells you about selling a business. And let's say you sell the business and you have to join the other business too as part of the sale, which is usually what happens.
A lot of times there are retention contracts that go along with a sale. It's not like you can just wipe your hands clean and away you go and you never have to be involved again. You run off to your island or wherever you're planning on going.
That's not how it works. Here's the reality. Once your company is sold, it's gone forever. It's not yours anymore.
And here's what you lose that nobody tells you. You lose the joy of building a business that is yours and you can't ever get that back. And that sucks.
And that's what people don't tell you is there's a huge emptiness. There's a void every day. And I can tell you from personal experience that this is true every day for the rest of your life you'll be thinking about that company and those things that you were doing with that group of people. That indispensable group of people that you loved being with.
And now guess what? You can never replace it again. That's what you lose. So when you decide that it's your time to sell your company that you really believe in. Somebody makes you an offer that offer better be damn good, because the things that you can replace or can't replace, they're priceless.
You can't ever get those back and it's hard to replicate and try and do it again. So those are the things to remember. So just remember that before you pull the trigger on selling the company. I'm brett@brettjfox.com have a great, great day.