I've seen this headline for a number of years:
Exiting a Business: Which option is Right for You?
Well, that of course depends, doesn't it?! I've seen many simplify this a lot, but they never seem to ask the question, "How does this align with what you do next?"
Because if you do not answer that question honestly you may be making the wrong decision.
For example, let us say you sell your company because a buyer walks through the door and offers you a crazy price, but you get most of your satisfaction from working on your company. Then all the money in the world would not give you back that satisfaction, period!!
A study a few years ago said that seventy percent (70%) of business owners, after they sell, within two years, are not satisfied with selling their company. The reason? Simply they never stopped to align the transition of the company with what they wanted to do next.
Frankly, as they say, money is not everything.
John Hamel is the Managing Member of Austec Business Transitions, LLC. helping businesses optimize value relative to exiting their company.