We knew if we could continue to double our sales, we could hold off, keep scaling the business, and in the end be in a much better place to sell. And we did just that.
Tagged: exit strategy
Passion changes. It’s fleeting. And I’m convinced that if we follow it, we’ll never catch it.
At the end of the day, some entrepreneurs simple don’t want to bother thinking about this sort of stuff. After all, very few of us would like to go into a new business venture visualizing our own imminent departure.
Once you understand when it’s time to pivot or close your doors entirely you can take those lessons and move forward to new ideas, with better prospects and experience under your belt.
Entrepreneurs who are savvy about growing their ventures spend a lot of time thinking about growth strategies. The truly wise ones aren’t just thinking about growth – they’re simultaneously strategizing a successful exit.
Selling a business can be tricky and complicated. Here are a few lessons I learned from concluding the sale of the wealth management division of my firm.