Retirement & Selling Your Business

I Want to Retire But Can’t Sell my Business -

Recently a reader has asked me a question. He wants to retire now but he can’t sell his Business. This is the problem with many Small to medium sized Business owners around this world. And there are several reasons you can’t sell your Business. Here are few.

- You have an emotional attachment with your business
- You want to sell your Business but you don’t know how to do it?
- You want to sell your Business but you don’t know that how to do proper valuation of your Business
- Your Business operates in such a small market that it’s very difficult to find a buyer
- You can’t find a buyer who is willing to pay you your desired amount.

This happens with several small and medium sized business. The owners want to retire after selling a Business but they can’t sell their Business because of any one or more of the above reasons.

In this case, my advise is that, You put your Business on the Autopilot, take the retirement and than find the buyer for your business while enjoying your retirement. So How to put your Business on the Autopilot? Well, you just higher a manager/CEO who will run your business even without the presence of you.

But well, not the all the Businesses can afford to have a CEO. Say for Example, take the Example of this Blog. This Blog is my Internet Business. But suppose if today I want to put this Blog on Autopilot than I Simply can’t because to put this Blog on the Autopilot, I need to higher writers and the Income of this Business is not that much that I can hire full time writers for this Blog.

So This may be a hurdle in case of your Business. But well, there is only one solution of this thing. You have to work hard to grow your Business to such level that, from that level, it can afford to hire managers. There is no other way.

If I want to put this Blog on the Autopilot than I MUST need to grow this Blog Income to such level that, from that level, it can hire the Best writers in this world.

So Focus on growing your Business so that it can afford managers. After all, you have to work “ON” Business and not “IN” the Business…!!!