Many people forget along the way to think about when, why, and how to sell their business. Even more importantly, they forget to prepare themselves mentally, emotionally, and professionally for what happens AFTER they sell their business.
Jay Myers ran a business for over 20 years before finally selling it, and even though he was prepared in as many ways as possible, he still is learning to deal with what the rest of his life is going to be like.
Myers is currently focused on mentoring, investing, speaking, and publishing books.
In this episode, we specifically discussed:
– How soon should you be thinking about selling your company?
– How to handle acquirers pursuing you when you aren’t interested?
– Did those calls change how you thought about your business?
– What did you do to make your company look sexy?
– How do you determine what your reputation in the market is?
– How do you decrease turnover among employees?
– How do you get yourself onto those fastest-growing lists such as Forbes and Inc?
– What is the most important thing you wish someone had told you about selling a business?
– How did the buyer find you?
– Who from the team knew?
– What kind of legal prep?
– Did they make you an offer, or did you make an ask, and how did the negotiation work?
– Why should you get a personal goodwill audit?
– When should you sell your business?
– What is your plan for the next five years?
If you don’t see the player above, click on the link below to listen directly!
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This article about managing wealth for entrepreneurs was first published on We Live To Build.
Image Credit: jomkwan7
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