How Do You Know When It's Time to Sell Your Business? 5 Points of Consideration | Ep #4 Artwork

The Small Business Millionaire

The Small Business Millionaire podcast teaches you the secret small business strategies that the most successful entrepreneurs use to build profitable and growing businesses, and then, the magic formula for creating personal wealth beyond your greatest dreams. Our blog host, Jeff Wiener, ran a profitable and cash-flow positive business for 288 months in-a-row, including managing through three recessions, and sold his 50-employee small business in 2017 for 8-figures. Jeff will guide you through topics like improving profits, increasing revenues, managing cash-flow, leading teams, and many many more to help you build your own personal empire. You can also find the blog at: thekickassentrepreneur.com

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The Small Business Millionaire

How Do You Know When It's Time to Sell Your Business? 5 Points of Consideration | Ep #4

June 15, 2020 • Jeff Wiener • Episode 4

Why did you start your business?

If you started it because you are passionate about the industry you’re in or that you’re excited by the prospect of running and growing a business, that’s enough of a “why” to keep you going past the early business-year struggles.

If, on the other hand, you decided to start a business because you’re looking to become rich, or for a quick mega million business sale, and that’s your sole motivating factor, then it might be a difficult road ahead.

It is important to remember that before you decide to sell your company, you need to think carefully about “why.” Scooping a few dollars might put a short-term smile on your face, but it doesn’t replace many of the things you’ll invariably miss, such as the energy of running a business and the feeling of significance of being its President.

In this podcast, I review five points of consideration and things you'll want to ask yourself before you commit to selling.