The saying is true: money can’t buy happiness. On the other hand, as my father says, “Money isn’t everything, but it sure helps keep the kids in touch!”
While Dad’s sentiment usually gets a laugh, he actually makes a very wise point.
The Money Does Matter
We can certainly agree that life is about more than money. But when a person pours their heart and soul into a business — into their life’s work — there is financial value there that ought to be protected in order to make way for what matters most.
What matters most is people, relationships, and family. Joy is found in shared experiences and making memories with your family, your children, and their children. Consider the financial value you have built in your business over the years and what you can do with that money if you handle your exit wisely. Imagine the intergenerational value transfer that is possible when a hardworking business owner exits his or her business intentionally and with experienced guidance.
Do not approach your exit casually. It is probably safe to assume that you hire a professional to handle or advise on every other critically important thing in your life. Here too, you owe it to yourself and those who matter most to you to hire a professional to help ensure the absolute best result in the sale of your business.
How do I get top dollar for my business?
Hire a professional, and specifically, work with a firm who employs advisors who have been in your shoes. For example, over half of Viking M&A’s business advisors have owned their own businesses. They understand where you are, and they understand why getting top dollar for your business matters.
Ultimately, selling your business is about much more than money, but it is also about money. And it ought to be. You have poured your life into your business, and that equates to financial value that can in turn add value to your life and your family, even to the next generation.
There are a number of reasons why you should use a business broker to sell your business. Most importantly, business brokers help protect your confidentiality throughout the selling process, can offer recommendations for maximizing the value of your business, and can help you find the right buyer for your business to ensure the most desirable outcome.
If you are considering an exit, we would love to help you maximize the return on your life’s work. Contact Viking today for a no-cost consultation and business valuation.
