Do you know lies business owners tell themselves when it comes to selling their company?
Chances are you tell yourself the same lies if you’re thinking about your company.
Success in both business and life is knowing both what to do and not do.
Does this sound familiar?
You started your business with an idea. Most people thought you were crazy for going out on your own.
But your passion for solving a painful problem helped lead the charge. The problem was so painful that people paid you to take their pain away.
In the early days, you welcomed so-called failure as your best friend, but you persisted.
Sleepless nights, long hours, and the hope of a better tomorrow became the new norm. You put everything on the line to make things work.
Your passion and grit kept you in the game long enough to experience success.
Congratulations! You beat the odds and have made a difference.
Now that you’ve put in the time and paid the price of success, you’re looking to cash out and sell your business.
Whether you know it or not, you’re at a crossroad.
What you do next will determine if your next chapter in life is a massive success or failure.
Unfortunately, the lies business owners tell themselves has them get ripped off.
The lies business owners tell themselves have them lose millions of dollars.
What are the lies business owners tell themselves, and how can you avoid them?
There’s only one way to find out.
Lies Business Owners Tell Themselves Include Not Having Enough Time
The truth will set you free, but first it will make you miserable – James A. Garfield
The lies business owners tell themselves include not having enough time.
The irony is that the truth to this lie is that you never have enough time unless something is important.
If you’re like most business owners, you have more things to do than time itself. You spend your time moving from one business crisis to another.
You tell yourself that you are your company and your company is you.
Congratulations, my Rockstar entrepreneur! You’ve joined the popular club of lies business owners tell themselves.
This is one club that you want to give up your membership if you want to live the life of your dreams.
Believing that you do not have enough time when it comes to selling your company sets you up for failure.
You have one chance when selling your company, and you better make it count.
Your future buyer is smart, sophisticated, and experienced. Buyers hope and pray that sellers don’t prepare for the sale of their company.
Every mistake you make takes your hard-earned money and puts it in the pocket of your future buyer.
Read and prosper from “Do You Know The 7 Mistakes Every Buyer Wants You To Make When Selling Your Business?”
The truth is that you found the time needed for the important things.
When it comes to selling your business, know that you do have the time if you do one thing.
What’s this one thing?
Keep reading to find out.
Lies Business Owners Tell Themselves: Believing That Their Companies Won’t Run Without Them
The telltale sign of a successful company is one that runs without its owner – Jeffrey Feldberg
One of the biggest lies business owners tell themselves is their companies need them.
Let’s focus on Y.O.U.
A simple question.
Does your company run without you?
Read and prosper from “Why You’ll Be Happier And Richer When Your Company Runs Without You.”
For most business owners, the answer is a resounding “no.”
Here’s another simple question.
It’s at this point that the excuses pile up.
You’re not alone.
One more question.
Why should you care if your company runs without you?
First, you finally live the life you always dreamed about when you started your business. Unshackle those golden handcuffs and enjoy life.
Your employees, friends, and family will thank you. But most of all, you’ll thank yourself for your free time.
Speaking of free time, this is the second reason. Your free time has you find new painful problems you’re passionate about solving.
It was a painful problem that you were passionate about solving that put you in business. The next painful problem you solve will help keep you in business.
And if you do it right, you will create a market disruption.
Read and prosper from “Why You Need To Create Market Disruption To Lead, Succeed, And Prosper.”
Last but not least is that your company value skyrockets. If you’re thinking about selling your business, there’s something you need to know.
Buyers pay a premium for companies that run without their owners. Buyers need to know that when you’re not around, your company will thrive and prosper.
Don’t fall into the lies business owners tell themselves.
Make it your mission today to have your company run without you. Do this today, and you’ll thank me tomorrow.
Are You Waiting, Hoping, And Praying That Your Competition Will Buy Your Company?
Actions, not words, unlock your sweet success – Jeffrey Feldberg
There are many lies business owners tell themselves.
One of the top contenders is the belief of retiring rich when the competition buys your company.
Three words of advice: don’t do it!
Read and prosper from “This Is What Happens When You Trust A Buyer For Your Business Who Does These 5 Toxic Things.”
The only “truth” to this lie is that your competition hopes you buy into this myth.
Your future buyer is smart, sophisticated, and experienced.
Do you know the reason buyers make the first move with unsolicited offers?
The answer is you leave millions of your hard-earned money on the table.
In other words, you lose. The buyer wins.
A quick story.
A wolf in sheep’s clothing, aka the buyer, gave me an unsolicited offer to buy my eLearning company.
I shocked the buyer when I said “no” to his 7-figure offer based on three times EBITDA.
The buyer knew that I didn’t know what I didn’t know when it came to selling a company.
In saying “no” to the offer, I said “yes” to mastering the art and science of selling a business.
Two years later, I said “yes” to a 9-figure offer based on 13 times EBITDA from a different buyer.
In other words, my same company with the same people and the same service went up in value 10 times.
Stop hoping, waiting, and praying for your competition to buy you out.
Take action today and prepare so you can prosper tomorrow.
One of the biggest lies business owners tell themselves is fatal.
Any idea on what this lie is all about?
Lies Business Owners Tell Themselves: Believing Accountants Know How To Value A Company
Accountants are in the past, managers are in the present, and leaders are in the future – Paul Orfalea
Lies business owners tell themselves includes their accountants knowing their company value.
Accountants are an important part of your team and play an invaluable role.
You need great accountants on your exit team if you plan to maximize your company value.
Read and prosper from “Assembling Your Exit Team? How To Crush It And Win.”
Your accountants are great, except when it comes to knowing your company value.
Asking your accountants for your company value is like asking your doctor for tax advice.
Don’t do it.
Both you and your accountants will lose on two counts.
First, your accountants can tell you everything about your company yesterday. Your accountants don’t have the experience to discuss company value with you.
Second, asking your accountants about company value puts them in an awkward position. Most professionals don’t like to say, “I don’t know.”
Don’t do it.
Know this and know this well.
Avoid the lies that business owners tell themselves about accountants knowing company value.
As we round out the lies business owners tell themselves, are you curious to learn about one of the biggest lies?
One Of The Biggest Lies Business Owners Tell Themselves Is That One Day They’ll Retire Rich And Happy
Winners take action today knowing there is no “one day” on any calendar – Jeffrey Feldberg
Do you believe that “one day,” you’ll retire rich and happy?
You’re not alone.
Most business owners believe that “one day,” they’ll also retire rich and happy.
Welcome to one of the biggest lies business owners tell themselves.
Last time I checked, I didn’t see “one day” on any calendar.
Am I saying to stop dreaming of the day when you’re retired, rich, and happy?
Not a chance.
Your dreams and hope of a better tomorrow are the DNA of every successful entrepreneur.
Read and prosper from “5 Reasons To Sell Hope On Your Exit That Will Blow Your Mind.”
What I am saying is that if you want to retire rich and happy after your exit, you must prepare.
Would you like to know one of the best-kept secrets of the exit industry?
Here’s the secret.
There are certain strategies that help you achieve the highest value for your company. It’s the SAME strategies that help your company thrive and prosper.
In other words, keep your company forever or sell it tomorrow. The choice is yours. Either scenario depends on the same strategies.
You can’t time your exit, but you can prepare both you and your company.
When the opportunity presents itself, you’re ready.
What are these strategies to maximize profits and your company value?
That’s another story for another time.
What you now know are the lies business owners tell themselves.
Success in both life and business is knowing what to do, and as important, what not to do.
When it comes to selling your company, avoid the lies business owners tell themselves.
You have once chance to sell your company, and you better make it count.
Who am I, and how do I know?
I was the kid who started his eLearning company right out of school with no money, experience, or team. I had no business being in business.
My grit and passion kept me in the game long enough for my eLearning company to dominate the industry.
Out of nowhere, a smart and sophisticated buyer gave me a 7-figure offer based on three times EBITDA. I said “no” to the offer and “yes” to mastering the art and science of selling a company.
What I learned shocked me to the core. The system is set up against you right from the start.
Two years later, I said “yes” to a new buy with a 9-figure offer based on 13 times EBITDA.
My eLearning company value increased 10X despite offering the service.
What made the difference?
One of the main factors was to believe no longer the lies business owners tell themselves on their exits.
I’ve revealed five of the biggest lies business owners tell themselves.
Let my heavy-lifting be to your benefit.
Learn all five lies business owners tell themselves and stop believing them.
Knowing what not to do is often more important than knowing what to do.
You can do this. I know you can.
And the great news is you already have everything you need to be successful. Starting right now.
Here’s to you and your success!
Your BIGGEST Raving Fan,