Because You May Only Have One Chance To Exit

Avoid Mistakes
Selling Your Business

By Josh Foo,

UPDATED:  January 24, 2019

I have seen too many mistakes from business owners trying to exit their business.

The truth is you may only get one chance to exit and one mistake could could mean not selling.  Stats don't lie. More than 4 in 5 businesses fail and are never sold.

They simply close up shop. 

Unlike real estate that has impersonal market value, businesses are far more personal and intimate and thus its value highly subjective.

Another 'perfect' buyer may never show up if you let the first one slip.

For instance, it is very plausible for a wealthy, newly-arrived migrant family to offer above-market price for a business because they think that it is 'perfect'.   Perfect because the business is close to home, close to relatives and close to their migrant community. Price then becomes a non-issue.   If you let this buyer slip, you may never find another buyer that sees the business through the same lens.

Your business could be waiting for that one buyer and if you make mistakes, you face the possibility of leaving money on the table or not selling at all. 

This could be life changing. 

One mistake can scuttle a sale. Photo:

Mistakes Selling Your Business

› Avoid Mistakes