Getting out at the top – Selling your business for top $

Hey, that’s your money that she’s playing with!

One question that eats away at many former business owners is whether or not they let money on the table when they sold the business.  Like any investment there is a huge amount of stress created between fear and greed at the point of sale.  Fear that they won’t ever get to sell it for this much again so sell right now and greed that “if we just make this change or wait for the economy to pick up we’ll get much more”.

How can you avoid such a heavy weight as you enter retirement?  The simple answer is to have an exit strategy.  When you buy a stock or speculate on commodities the experts urge you to know when you will get out before you buy in.  That rule holds for business too.  The trouble is that generally if you are reading this you have already bought but no matter, play the hand you have been dealt.  So the only important  question is when to get out.   That question is much more easily and reliably answered well ahead of decision time, before emotions take hold.

How do you answer the question reliably?  Get a business coach to work with you through the key points of consideration; who will you sell to?; why would they buy?; how do you maximize the value that they see in your business?; when is the best time to start discussions on this?

Call me at 604 339 5369 if you are thinking of selling your business and I guarantee that you will make substantially more money and get out much closer to the top then you would by acting alone.

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Emigrating to Canada?

I have readers all over the world and as such I thought that I should let you know about some recent additions to my network of “Good People to Know”.

If you are emmigrating to Canada or are thinking about it then there are some changes in the process that you should know about.  Particularly if you can bring a reasonable investment with you to buy or start a business.  According to my immigration law friends Canada is lucky in that we can be pretty selective of our new immigrants and the Federal Government recently set out its stall in terms of what it is looking for in certain areas. This includes immigrants with the skills to run businesses and the means to invest in them to grow and protect employment, particularly outside of main metro-areas like Vancouver.

I am fortunate enough to have contacts at a couple of top quality immigration law firms as well as a network of contacts who can source suitable businesses for sale when we know what the potential immigrant is looking for.  So if you are considering a life in Canada, have at least $200,000 CDN to invest in a new or existing business and have a track record of success in some area or business then give me a buzz on (604) 339 5369 and we can discuss how my network can be put to work finding you the easiest, quickest and most profitable route into Canada.

Equally if you know of any businesses that are for sale that might be of interest to an arriving immigrant then put them on my radar, within my network we have hundreds of immigrants looking for the right opportunity.