Have you run into anyone lately who can’t sell or pass on their business? Often, that is painful because most business owners have 75% of their wealth wrapped up in their business – not to mention the huge emotional investment he or she has made over the years!
Today let’s talk about challenges with selling your business. Maybe you’ve heard about someone who is in that position. Maybe you are facing it yourself.
It goes like this, ”Shoot; I can’t sell my business, now what the heck am I going to do?”
Chances are if that’s the situation that you’re in, you’re going to use a word a bit stronger than “shoot” because that is a really stressful situation. There can be a number of reasons for you being in this situation.
One of the common reasons for not being able to sell a business is that too much of the information needed to run the business is in your brain. You would literally have to sever your head and sell it with the business, which is not too practical!Dr. Stephie, The Brilliance Mine
There could be another situation, which is sometimes regulations get in the way of a sale of a business. Yet, you have so much to offer!
It’s really frustrating when you come to this roadblock. You’ve worked in your business for 30, 40, who knows how many years, and you have this wealth of experience, expertise, and wisdom. You think to yourself, “That has to be worth something!”
You Are Right. Your Expertise IS Worth A Lot!
You’re right. It is. Then it’s just the question of how do you play your cards the right way so that you can get paid for that expertise?
You have a couple of options.
Option 1: Convert Your Business From “Not Sellable” Into “Sellable”
One is that you convert your business from not sellable into sellable. That undoubtedly means that the expertise that’s in your brain has to be pulled out, and made systematic. It has to make sense to other people who don’t have all this experience. Others have to be able to operate with that knowledge, without you being there to support them. I call that making your expertise “visible and actionable.”
Option 2: Market Your Expertise
If there are regulations or roadblocks that still prevent you from selling your business, even with making your expertise visible and actionable, then there’s another option.
That option is to market your expertise without selling your business. That, too, requires pulling that expertise out of your brain and making it visible and actionable for others.
Both of the options require making your expertise visible and actionable to others. That is exactly what we do in Brilliance Mining™. If that’s your situation, please talk to me. It doesn’t cost you anything to talk to me. Let’s see what there is and what one can do.
If you are in a situation similar to what I’m describing here, please don’t hesitate to reach out to me. A 20-minute chat with me doesn’t cost you anything and it might give you some ideas on how to proceed. I’m happy to help you.
P.S.: I appreciate you commenting and sharing this Treasure Tuesday with others. Thank you!