A Rock in a Lake
When you throw a rock in a lake, it makes a splash. After it ripples for a while, the lake goes back to looking like it did before you threw the rock. When you decide to sell your business and toss it into the marketplace, it makes a splash too.
Potential buyers notice it. But after a while, the marketplace goes back to the way it was, just like the lake. Your business is still there, but it’s not as noticeable as it was when it was making splashes and ripples.
You have one chance to make that splash. Make sure you have everything ready before you toss in your rock.
This “splash-effect” is why hiring a real estate agent to sell your business can actually be damaging if you are not careful. Those agents often broadcast the availability of your business far and wide without an understanding of the implications. Their message is not targeted at your potential buyers, and they steal your one chance to make your splash.
But.... what if.....
....you’ve already announced to the world that your business is for sale? You might consider taking your business off the market, amp up your enthusiasm for business again so that the universe forgets that you had ever considered selling it, and start the sales project again after you’ve done your homework.
If you have your heart set on selling your business, if your business has become your own personal prison, this advice is hard to swallow. But the pay off is there. Hang in there and do it right. As my mom used to say, there’s never enough time to do it right but there’s always enough time to do it over.
Take your time and do it right the first time. Or the second time if that’s the way it has to be.