Quote:
Originally Posted by Rocco Barbosa
When you decided to sell your business, was there one nagging issue that caused you to to say: "Okay, that's it, it's time to sell?"
I work with a lot of business owners and I'm curious to see if any of your reasons line up with many of the owners that I've worked with.
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I had a small business, did about 500K a year with about 350 recurring charge clients, of which I really didn't like 200 of them. I was not selling but a guy walked into a vendor's office (we both used this vendor) and started bragging how he was buying up competitors, was going to be the top of the food chain so I turned an threw a number at him. He ended up buying 2/3 of my clients (he didn't have the money for the whole thing) and I sold the other 1/3 to someone else.
So in less than 90 days I sold the business, sold my house for 2.5X what I paid for it and moved out of the area all without intending to do any of the above. I restarted in the same industry, acquired another 300 clients (essentially for free) and was right back where I started in less than 4 years.......without spending the cash from the first transaction!