Every business that exists today starts with at least one person. This person is the manpower, capital provider, manager, planner and just about everything else you can think of when it comes to running a company.
But what about the person who ends up being the 1st and only employee? This happens to a lot of people. There is about a 50/50 chance that a business will not make it past it's first five years of existence. There are people who want nothing more than the ability to earn their own money with no boss and no one telling them what to do. They are content with a job even after five years.
These individuals are simply buying themselves a job. There is nothing wrong with this until you come time to sell your business. All that was right with the business now becomes all that is potentially wrong with the business.
In a nutshell, you are searching for a buyer who is just like you and... you think very highly of yourself! So much so, most people in this position tend to overprice themselves thinking that it is easy to find another one just like you.
Sorry, folks, this is not a realistic task. Be real and think about what the buyer is going want. Does the buyer simply want a job or can you help them find a way to grow the business. The result will be a much more realistic chance to sell this type of business.
But what about the person who ends up being the 1st and only employee? This happens to a lot of people. There is about a 50/50 chance that a business will not make it past it's first five years of existence. There are people who want nothing more than the ability to earn their own money with no boss and no one telling them what to do. They are content with a job even after five years.
These individuals are simply buying themselves a job. There is nothing wrong with this until you come time to sell your business. All that was right with the business now becomes all that is potentially wrong with the business.
In a nutshell, you are searching for a buyer who is just like you and... you think very highly of yourself! So much so, most people in this position tend to overprice themselves thinking that it is easy to find another one just like you.
Sorry, folks, this is not a realistic task. Be real and think about what the buyer is going want. Does the buyer simply want a job or can you help them find a way to grow the business. The result will be a much more realistic chance to sell this type of business.
