Years ago, I was introduced to one of my first business sales deals.
While visiting the UK, we considered buying a Welsh café for my mother-in-law.
We knew this café as patrons and the initial teaser looked promising.
The Café and the Freehold together for a modest amount.
We met with the owner and the broker.
And it was an eye opener.
The broker started by saying the freehold was off. They would not be selling that.
They just wanted to unload the café.
So I asked to see the updated financial reports, because what they had sent me was at least two years old.
“Listen..”, interrupted the owner, “this café put my kids through University.. that is all you really need to know..”
“Actually,” I replied… “I already know what I needed to know.”
We got up and walked away.
It was obvious she was hiding stuff. Honestly, the Café didn’t seem worth it and the lack of transparency made us not even want to make a counter offer.
And guess what… her lack of preparation and clarity was not out of the ordinary.
Often business owners are unclear as to what makes their business valuable for someone else to invest.
And so they go to market and buyers react the way we did.
But it’s not like selling a house. When you put your business out to sell you better be prepared so it can actually be sold or you might face some dire consequences
Like employees fleeing for the door when they find out you’re up for sale and soon your business is gutted because all the experienced staff are gone.
Or customers deciding it’s too risky and taking their business elsewhere.
It happens often.. and you don’t want to end up discovering way too late that you are in that same boat.
Which is why we launched a new course in the Owners Portal “How to Attract Investors to your Business.”
In this 35-minute presentation you will learn the four key questions you need to answer before even trying to attract investors.
Check it out in the Owners Portal. If you’re not already a member you can join for free with no obligation by clicking and signing up here.
P.S. I work with ambitious business owners ready to step back from the grind and step up into a high-impact role that frees their time, drives up the value of their business, creates a lasting legacy and positions them for a successful exit.
Through our Socratic Success System, you gain the clarity to discover solutions tailored to your needs—allowing you to effortlessly implement real, lasting changes that transform your business to fulfill the dreams of why you created it in the first place – starting today.
But don’t take my word for it. Find out more by coming to Sophiall.com to check out my different services and resources.
You can also find out more about me and what I do by clicking my LinkTree.