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Not Ready to Say “I Do”?

October 12, 2010

Published in the October 2010 issue of Nanaimo Magazine

To see the published article: http://www.downtownmagazine.ca/nanaimo/nanaimomag.php

Even though you know you’re ready, sometimes it’s still hard to commit—to leaving that is.  When the perfect buyer finally makes you the offer you’ve been waiting for, you get ‘cold feet’ and feel the urge to run from the proverbial alter. And then come the questions: “Do you take this buyer as the long awaited answer to your succession plan, as long as you live?  Does anyone here object to the marriage of this buyer and seller?”  Hmmm, you think to yourself… yes, no maybe, no, you’re not sure…After all, you were the one who took the biggest risk.  You were the one who planted the seed, watered it and nourished that business from its infancy into the successful going concern it is today.  Are you really ready to let it go?  Did you get enough money?  Maybe you should have held out for more?

It’s not surprising that business owners, however excited they may be about hitting the golf greens, moving or starting a new venture, signing on the dotted line and handing over the keys can be difficult process.  That’s where BC Business Brokers use their skills to work with their clients in reaching their goals.  If you are feeling the jitters about selling your business and opening the next chapter of your life, here are 5 tips to help you warm your feet:

1. Recognize that it’s normal to have second thoughts for any event that requires a life-altering decision.

2. Acknowledge that people fear the unknown, especially when it means leaving something that’s been a big part of their lives.

3. Stay focused on your original goal—if you want to retire or change careers, feel the fear and DO IT anyway.

4. Stay grounded—don’t get greedy!  Just like the stock market, those who hold out for the highest price often lose it all.

5. Realize that your perspective is strongly influenced by emotion and thus, your outlook may be skewed.

BC Business Brokers utilize their knowledge of the industry within the context of the current economy to bring perspective to every transaction. These professionals receive in-depth training through the IBBA University (International Business Brokers Association), achieving their CBI (Certified Business Intermediary) designation. Affiliated with the largest global business brokerage and a network of 300 licensed offices worldwide, effective business advisors bring together buyers and sellers and foster a mutually agreeable deal for their clients. We coordinate each business transaction by working together with our clients’ lawyers, accountants and financial planners.  Business Brokerage is all about relationships and connections—helping clients overcome the hurdles so they can confidently say “I do!”

If you are interested in exploring business opportunities or are contemplating the sale of your business, feel free to give the BC Business Brokers office a call at 1-877-289-0969 or visit our websites at http://www.bcbusinessbroker.ca or http://www.sunbeltnetwork.com/vancouverisland.

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