The slow economic turn around has many owners having to make the tough decision of selling low, getting out through liquidation, or waiting to sell their business.
If you have decided the best strategy for you is to wait until the economy and your business rebounds, don’t sit and wait. It is hard but, in the situation where you want to sell your business but barely seem to have the energy to run it, find the enthusiasm to make it even better while you wait.
Perhaps now is the time for the coach you know you likely need to keep going, wisely. Or, it is the time for the consultant to assist in finding new, professional eyes to look at the opportunities you have. Consider the inventory you carry. Can you make it be a more productive level.
Story: One gentleman had been tight with cash and allow inventory to reduce but his sales dropped to less than ½ his normal. He found the cash to improve inventory and now has more than doubled his sales to a more normal level.
Story two: Another business owner, retail store, found after buying her business could reduce inventory without affecting sales.
As I say to every business seller who should and can wait…look deep inside and find the strength to operate the business the best you can. It may be a different best but, ultimately when the time comes that you can sell, you will profit from your efforts.
