Can Selling Your Business give you More Time for Life?
hey say money can’t buy happiness… but it sure can buy you things that make you happy. But the acquisition of money is often a very time-consuming thing. I have lost count of the number of business owners who have come to me saying, “I have a successful business, but no time to enjoy the proceeds.” Long days in the office, lost weekends dealing with urgent issues, and holidays spent with one eye firmly on what is happening back at home, eventually take their toll.
Because you are so busy with running your business, you have probably engaged a wealth manager to help look after the money that you are generating. If you haven’t then I strongly suggest you do. But the real value of having a wealth manager is in helping you turn the tables and instead of working for money, make money work for you!
This is where an exit strategy for your business comes in. If you are reading this then the chances are you have a successful business, but it is also likely that it doesn’t quite hold the same thrill as it used to, when time was just a four-letter word. Selling a business can help you realise value and walk away, which may just be the opportunity to “buy” back the time you crave. Time with friends and family, time to perfect that golf swing, time to travel, time to do all of those things you have been putting off for years.
If that sounds like you then here are a few things you might want to consider:
- Start slowly – even if the will is there, unhooking yourself from a business is not an easy process, so give yourself time. Look to promote from within, bring in a good lieutenant who can start to take on some of the responsibility and attend some meetings on your behalf. You may also want to consider allocating yourself some personal days in the diary, where all staff know you are not to be disturbed – there is very little, after all, that cannot hold for one day!
- Seek wealth management advice – I have already suggested strongly that if you don’t have one, you should engage with a wealth manager. It makes a lot of sense, and they are well placed to help you understand how much cash you actually need, to lead the life you want to live.
- Explore the sales process – corporate finance experts, Entrepreneurs Hub run regular webinars on the subject of how to sell a business for maximum value. They are free and confidentiality is assured, they are a great way to find out more for yourself.
- Meet with us – if and when you are ready, we would love to meet with you to talk in confidence about your next steps.
There is a phrase you may be familiar with – money rich, time poor! If that resonates with you then I would encourage you to take some action. You may not be able to buy back time you have lost, but what you do with the time that is in front of you is in your hands.
If you are ready to sell, but you suspect your business is not then don’t give up. Entrepreneurs Hub are business brokers with a difference. We are not just interested in taking your business to market, we are interested in taking your business to market in the best shape possible and as a result maximising value. We work with business owners to prepare their business for sale, however long it takes.
Why don’t you get in touch and we would be happy to meet with you, in strict confidence, to discuss your situation.
Similar Insights
FAQs – Selling your company
How do I sell my business?
At Entrepreneurs Hub, we talk about five key areas that make the difference between success and failure when selling your business. Read more…
How much can I sell my business for?
Determining your business’s value is more than just calculating a number it’s complex with key factors, that said the basic equation is actually quite simple. Read more…
How long does it take to sell my business?
The timeline varies depending on the complexity of the deal and how ready the business is for sale. On average, the process takes around twelve months – sometimes less, sometimes more.
While preparing your business for sale, Entrepreneurs Hub conducts in-depth research to identify potential acquirers. You’ll have the opportunity to review and approve this list before we make any approaches. Once the business is fully prepared – often the most time-consuming step, we begin marketing it. Typically, you’ll start seeing initial interest within a few months, with follow-up meetings happening shortly after.
As these meetings progress – coordinated and facilitated by Entrepreneurs Hub, you’ll begin receiving initial offers. At this stage, we’ll help you assess the strategic fit between your business and potential buyers. When you decide to move forward with an offer, an exclusivity period begins, during which the acquirer conducts Due Diligence (DD).
The DD phase typically lasts two to three months, depending on the complexity of your business. Once complete, the sale is finalised, and you’ve successfully sold your company.
How do I sell my business quickly?
Selling a business quickly is possible, but speed shouldn’t come at the expense of value or deal security Read more…
When is the best time to sell?
Selling your business is a major milestone, and the start of an exciting new chapter, whether that means new ventures or a well-earned retirement.
In our experience, the best time to sell is when you don’t need to – when your business is performing well – not necessarily tied to the calendar. That said, timing can still play a role.
Timing the Market
Strong economic conditions, sector growth, and buyer confidence boost valuations. Don’t wait for a “perfect” market – a well-prepared, well-performing business sells in any climate.
Plan Ahead (12–18 Months)
The best outcomes come from early planning: clean financials, solid forecasting and growth potential.
Spring & Autumn Are Active Periods
The M&A market is typically busier in spring and autumn while summer and winter tend to be slower due to holidays and year-end distractions. However, the unpredictability of deals and negotiations makes this hard to target. We do deals all throughout the year – the key is to work with someone who can keep driving the deal forward whenever it happens.
Financial Year- End
Selling your business well is a long process and aiming for your financial year-end milestone is a virtually impossible task. But it is worth bearing your financial year in mind as buyers will want to review the most up-to-date accounts available.
The best time to sell is when your business is ready, and you are too. With the right preparation and positioning the right timing follows naturally.
Can I sell my business online?
Yes, you absolutely can sell a business online. Many platforms specialise in connecting business sellers with buyers. Read more…