Your Business is Failing – Close it or Sell it?
It’s hard to sell a small business, but it’s even more difficult to sell a failing small business.
That said, the prospect of shutting down a small business is terrifying for most small business owners. Many of us mentally escape to the place called “it’s failing, but someone will buy it”. Unfortunately, that place doesn’t exist for most small business owners.
Wanting to sell and needing to close are two different things. Too often owners don’t think of selling until things are going from bad to worse. And by that point, what they are trying to sell isn’t attractive to a potential buyer.
“After spending two years looking for a buyer, eventually running out of money for payroll. . . “
Where is your business? 6 Signs It’s Time to Close Your Business tells some informative, short stories about business owners who finally realized it was time to close.