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My Business is profitable. Why Should I sell it? |
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Firstly, because if your business stops being profitable the odds are that you will NOT be able to sell it. You will NOT have the choice.
Secondly, and most importantly, in the world of small and medium sized businesses the foreseeable future is small and the risk is great. Your biggest asset, goodwill, is a walking asset. It can very easily walk away from your business as market conditions change.
Moreover, although it sounds contradicting, your success could increase your risk. AS the market can outgrow you, so can your company. You are more than likely to reach a point where your own resources will not be sufficient to run the business. If you are prepared for this event, your exit will be a solution of choice. Otherwise it will be a necessity with the corresponding adverse results.
Sooner or later either the market or your business will outgrow you. Unless you have grown the business to a market leader or your business is one of the very few exceptions of small or medium-sized businesses that have stood the test of time.
If your business outgrows and you try to sell it you will be under pressure. Selling under pressure will never get you a satisfactory result.
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