What are the REAL reasons people sell their online businesses?
Sure, most of them say it’s because they’re going to “work on other projects” or something like that – but what’s the real reason behind that answer?
In today’s episode, we’re going to look at the reasons behind selling your business and review the good and not-so-good reasons it might be time to sell.
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Listen To The Full Interview:
What You’ll Learn From This Episode:
1. Are you emotionally ready to sell?
- Are you ok giving up your baby?
- Do you have something else exciting to do?
- Am I bored with the business?
2. Is the business ready to sell?
- Are you tracking traffic and financials?
- Are they trending well? Showing profit?
- Do you have processes documented and organized?
- Can someone unfamiliar with your business
3. Are market conditions right for selling my business? (Can you time the market?)
- Sellers market (in 2017 at least)
- Economy is strong – lots of money to invest
- Baby boomers cashed up and looking for retirement projects
- All brokers/marketplaces showing strong year-over-year growth
- Sophistication in online businesses has increased, strengthening the barrier to entry.
4. Are there more personal reasons you should sell?
- The company/business has outgrown your skills (or interests).
- The market is moving against you.
- You’re having life events/issues.
- A lucrative opportunity presents itself.