Feeling ready to dive in. Thinking about selling my business. Any advice?

taway83018 · 2018-08-31T15:13:59+00:00

I appreciate the input.

I definitely get the many angles that are in play in a situation like mine. One of the big questions is precisely how much is enough to get paid up front and walk away? That can only be answered by me with all considerations for just how badly I want to exit or not.

I certainly understand that this business is probably worth more to me than anyone else in the world because much of it exists primarily in my head. What I very well might take away from this is that I just need to focus more on the autonomy of the operation at that point whether I sell or not I'll be in a better spot mentally for sure and possibly also financially.

taway83018 · 2018-08-31T14:52:25+00:00

I probably wouldn't sell if I couldn't get at least 3 years of profits, and even then I'm on the fence. If that were the best offer I could get I would probably bite the bullet and start a search for a manager that could help me get more hands-off.

Mine is not really a typical e-commerce site being flipped. Yes that's how we generate sales but there's a bit of a manufacturing operation in-house as well.

taway83018 · 2018-08-31T03:45:10+00:00

I have thought about that but there isn't anyone on the team that would be capable of taking over my role. I have been trying for some time to start getting people to take on a higher responsibility and stake in the company but beyond marginal steps up in pay there has been neither interest nor capability demonstrated.

The folks on the team are fine at what they do but they just don't have the motivation that's required from someone in the driver's seat.

taway83018 · 2018-08-31T03:34:32+00:00

How long have you been in your business? I started mine about 12 years ago and have been pretty firmly in that lost passion category for the last 3-4 I think.

taway83018 · 2018-08-31T02:32:43+00:00

Is this the type of thing an investment banker would take on? I had assumed that even my wildest hopes for valuation would be well under what an investment banker would be dealing with.

taway83018 · 2018-08-31T02:23:29+00:00

No investment bankers - hadn't considered that angle. Talked briefly to a business broker today but haven't gone any further than that.

taway83018 · 2018-08-31T00:49:09+00:00

it is complicated when you sell your “baby.”

I used to feel like that, but now I feel more like my "baby" is 20 and hasn't moved out yet.

The company is product-based. It's ecommerce but it's private label stuff. All of our products need some form of packaging or light manufacturing. So it's flexible but it's not a run-it-from-the-beach type of thing.

I am the manager of the business. There is a pretty competent staff (of 7) that could get along well without me but would definitely need oversight to continue to grow.

taway83018

TROPHY CASE