Have you ever noticed that fire trucks back into the fire hall? Why don’t they just pull into their parking spot snout-forward like the rest of us?
Backing in saves them time when they have to get to a fire. They back in to be ready; whether the call comes in 5 minutes or 5 days, they are prepared to pull out as quickly as possible.
Like the firemen, you, as a business owner, need to be ready when you get the call from someone who wants to buy your business. Now when things are going great and that Buyer comes along, would you recognize a great offer? If not, it’s time to educate yourself on business value.
Companies become more acquisitive when they have access to more cash than they know what to do with. An increase in acquisitiveness among buyers has important implications for you as a business owner. Chief among them is that you need to have a sellable asset when opportunity strikes.
As unsolicited offers increase, so too does the need for you to be ready. The hallmark of an unsolicited offer is the fact that you never know when it is going happen, which means you need to operate your business as if an offer were always around the corner.
It’s not the end of the world to sell on a high note. When the business is going well, a Buyer will surface out of nowhere. Conversely when the owner is ready to sell, the buyers are nowhere to be found. There are many reasons for this. Not everything works on the owner’s timeline. The universe often has other plans.
Companies that are sloppily put together with shoddy bookkeeping or too much customer concentration, or that are overly dependent on the owner or a key employee, will end up being passed over for more valuable businesses.
The time is now for you to get your company ready to showcase when opportunity comes knocking.
