Selling with Certainty by Terry H. Monroe

Author:Terry H. Monroe
Language: eng
Format: epub
ISBN: 9781626345379
Publisher: Greenleaf Book Group Press
Published: 2018-03-19T16:00:00+00:00

Most Business Owners Are

Terrible Sellers

“Wow,” you might say. “That sounds pretty harsh.” Well, I say this because it is easier to buy than it is to sell, as we discussed earlier. Buying is easy, because all you have to do is write a check or come up with the money—and voilà! Transaction done! Plus, we were taught as little kids that if we behaved or did certain chores, then we would be rewarded with some kind of treat or money. So in our minds, we relate buying with something positive and rewarding. It sometimes stimulates a happy feeling and gets the endorphins moving inside us.

On the other hand, selling involves thought, work, and having to perform a task that may or may not be rewarding— and subliminally it doesn’t give us the quick gratification we experience from buying. In our minds, buying is fun, rewarding, and gratifying, whereas selling is doing a task, performing work with an unknown timeline as to when it will be gratifying. You get the picture. So beware of this situation, because it is my job to alert you to everything that can go wrong so that you will be aware of these things and not fall into these situations.

Because of this mindset, being a buyer is easy for the same reason that being a seller is hard. As a seller, you are already in possession of what you are selling, and you are comfortable with what you own, and chances are you have owned the business for a long time. I have even had business owners tell me that their business is their baby, and they couldn’t sell their business to just anybody. Sorry, but your business is not your baby. It is a business, and its main function is to generate a profit. As I have always said over the years, “Never fall in love with a business or a property, because it can’t love you back!”

Now, you may think it is easy for me to say this, because it is not my business, and I don’t know what you have been through—all the trials and tribulations, as they say. The first time I sold one of my businesses, I took it personally too, but I didn’t have someone to explain to me that my business was just that—a business. A business is for producing a profit, and I would be compensated for selling it. And, by selling the business, it allowed me to move on to a better situation, where I could use the experience and knowledge I had learned from my past business to help me become more successful in my next venture.

So don’t get caught in the “business is my baby” syndrome. Keep a clear head, stay focused, and remember that your obligation and goal is to get the highest value from the sale of the business for you and your loved ones, partners, or stockholders.

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