Comments on: When Should You Sell Your Small Business?

By: Ryan

Ryan — Tue, 21 Jul 2009 19:37:23 +0000

Kirk, Passion certainly plays a role. Many entrepreneurs love the challenge of building something new, then once that is done, the goals change. There really is no right or wrong here – just whatever works best for you and your business.

By: Kirk Kinder

Kirk Kinder — Tue, 21 Jul 2009 18:11:10 +0000

I have yet to sell a business, but I work with many business owners. Often times, it seems that passion is the number one reason to sell. Once they lose the passion that prompted them to start the business. Or, I have seen several owners who left because they enjoy the creation of a business, not the management of an established company.

It sounds as is this is what your wife encountered. The fire just burned out so it was a wise move to sell.

By: Ryan

Ryan — Tue, 21 Jul 2009 03:25:50 +0000

MGL, Congrats on the sale. Even though you missed working on it after you sold it, it seems like you made the best decision for yourself and the business.

By: Ryan

Ryan — Tue, 21 Jul 2009 03:24:04 +0000

DDFD, you’re right – many entrepreneurs never consider the exit strategy when they start a business.

By: Ryan

Ryan — Tue, 21 Jul 2009 03:21:26 +0000

Curious Cat, I agree – there are times when you shouldn’t sell. One shouldn’t sell a business asset with value just because they can make a buck from it. The same thing goes with items around the home. Some things should be kept because their meaning or personal value is more than their intrinsic value.

In this example, my wife and I had no plans to develop or continue the site. After discussing it, decided that we would consider it a victory if we could sell it for a profit and use the proceeds for our baby’s education fund.

By: Curious Cat Investing Blog

Curious Cat Investing Blog — Tue, 21 Jul 2009 01:11:40 +0000

Good thoughts. Another factor is the personal value of owning it. I have several sites which I really don’t have any interest in selling. I want to own them. I want to use them for decades. If the value were to spike and decline, I don’t really care. Now if I could get enough money to retire with then I suppose I might sell (if some of the points you mention were also true), but since that is not going to happen I am not going to sell.

On the other hand I also own some sites I would sell f or the right price. But my style is more toward long term managing of site than building and selling them. But that is just how I think I work best, if I were wired differently I would have no problem building and selling sites.

By: Journey

Journey — Mon, 20 Jul 2009 22:13:00 +0000

Good post. It is something to think about.

By: DDFD at Defensive-Entrepreneurship

DDFD at Defensive-Entrepreneurship — Mon, 20 Jul 2009 12:58:34 +0000

Nice post! Most entrepreneurs neglect an important aspect of starting a small business– the exit strategy.

The exit strategy can even dictate how you run, build, and operate the business. Some businesses are run to be sold, others perpetuated, and still others to be shut down.

I am glad to hear you were able to salvage some of the value of the site.