Leap of Faith – The Fear of Losing what You Love
Do you remember watching the Indiana Jones films when they first came out? A bit of escapist nonsense to pass the time and loved by many to this day. In “The Last Crusade”, Indi is faced with a number of tests as he progresses in his quest for the Holy Grail and he comes to a deep chasm with no obvious way across. At this point he summons up his courage and takes a step of faith out into the unknown only to discover a cleverly disguised bridge under his feet.
Why does this come to mind? Well it seems to me that many business owners I speak to feel a little bit like Indiana Jones in this situation. They recognise they have come to the end of the path with their business and it is time for them to exit. But for many, acknowledging the situation and being entirely happy about it are two very different things.
In my experience, people who have built successful businesses are also deeply passionate about those businesses and the work they do. Everyone has good days and bad days, but deep down we love the work we do and so the thought of packing it all in stimulates some hard emotions.
But these hard decisions have to be made and so perhaps we need to frame the situation in another way. Here are two suggestions:
Not something lost, but something gained…
It is very easy, and natural, to think about what you are losing by selling the business – for many business owners the business has been somewhat all-consuming for many years. But what’s next? In one of our recent blogs, this was highlighted as one of the most important questions you need to answer before deciding to sell. As a business owner you understand the importance of setting goals and knowing what the next steps are – this is no different for your plans post-sale. Understanding this will put a different complexion on the sale from losing the thing you love, to gaining the opportunity to do something new.
Leaving behind a legacy that will grow…
Another way to look at this is from the perspective of the business itself. Many people equate building a business to raising children. You nurture it and grow it, trying to instil your values and personality until you have given it all you can give. Selling the business then is more like passing the business on to new owners who can continue to shape and develop it on the firm foundation you have created which is normally great news for your staff.
So if, like Indiana Jones, you find yourself at the end of the path, staring into what appears to be a deep chasm don’t despair. You are in safe hands with the Entrepreneurs Hub. We work with business owners at all stages; those who are ready to sell and those who are preparing, but also those who are just starting to consider their options.
So if this is a situation you are facing, or you just want to find out more. Why not attend one of our confidential webinars (click here for more details), or contact us for a free, no obligation chat and business review.
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FAQs – Selling Your Company
How do I sell my business in the UK?
Selling a business in the UK typically involves preparing financial information, obtaining a valuation, identifying suitable buyers and negotiating the terms of a sale. Most owners work with an M&A adviser to manage the process confidentially, approach qualified buyers and maximise the value achieved.
At Entrepreneurs Hub, we talk about five key areas that make the difference between success and failure when selling your business. Read more…
What is my business worth?
A business is typically valued using a multiple of its profit, usually EBITDA or adjusted net profit. The multiple depends on factors such as growth potential, recurring revenue, customer diversification and management strength. Professional valuation provides a realistic price range and helps position the business effectively for buyers.
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 a business?
Selling a business in the UK typically takes between six and nine months from preparation to completion. The timeline depends on business readiness, buyer demand and the complexity of due diligence. Early preparation and clear financial reporting can help shorten the process.
When is the best time to sell a business?
The best time to sell a business is when it is performing strongly, growth prospects are clear and you are not under pressure to sell.
Business owners often achieve the strongest outcomes when:
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Profits and revenue are growing
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Financial records are clear and well prepared
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There is visible future growth for buyers
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The owner has planned the sale 12–18 months in advance
Market conditions can also influence valuations. Strong buyer demand, sector growth and favourable economic conditions can increase acquisition activity, but a well-prepared business can attract interest in most markets.
Deal activity often increases during spring and autumn, although transactions complete throughout the year. In practice, preparation and business performance usually matter more than trying to perfectly time the market.
Ultimately, the best time to sell is when both the business and the owner are ready, with the company positioned to demonstrate strong value to potential buyers.
Do I need an adviser to sell my business?
Many business owners choose to work with an M&A adviser to manage the sale process. Advisers help value the business, approach qualified buyers confidentially and negotiate terms. This structured approach can increase the likelihood of achieving a higher value and a successful transaction.
How is confidentiality protected during a sale?
Confidentiality is protected through controlled information sharing, anonymous buyer approaches and strict non-disclosure agreements. Potential buyers receive limited information initially and must sign an NDA before any sensitive details are released. Business owners approve prospective buyers and maintain visibility over all documentation throughout the process.
How do I value my business before selling?
Valuing a business before selling usually involves analysing profitability, identifying valuation multiples and assessing key value drivers such as recurring revenue and customer concentration.
What’s the quickest way to sell a company?
Selling a business quickly is possible, but speed shouldn’t come at the expense of value or deal security Read more…
What’s the best way to sell a business online?
Yes, you absolutely can sell a business online. Many platforms specialise in connecting business sellers with buyers. Read more…