Can’t or Don’t Want to Sell Your Business – Now What…
Don Herrmann, MBA, CPC, SHRM-SCP
Vice President, Human Resources | Strategically Focused Data Driven Leader of People | Army Veteran
Last week we discussed how with the low probability your business will sell, only about 20% of businesses that go to market sell according to the Exit Planning Institute, that the owner is faced with a few options that can be of value. So, if you can't or don't want to sell your business, what do you do? Some business owners would be tempted to shutter their business or operate under the belief that a family member will take the business over. There are other options as well but for the business owner, everything starts with the current state of their business. As I wrote last week “The new focus for CEO’s was … on “organic growth was driven by market expansion, increasing revenues, operational improvement, and innovation. “ How does a small to mid-size business change their focus and develop the business in those areas?
If you enjoyed this Blog and think others may too, please share.
If you'd like help with growing, building, and improving the value of your business contact us today for a no-obligation initial consultation.
Don Herrmann is President and Founder of Herrmann Advantage Consulting, LLC, a consulting firm dedicated to the development of long-term sustainable growth and profitability for businesses through their business and workforce processes. A Speaker, Facilitator, Mentor, Coach, and business thought leader, he can be reached by email at [email protected].