I was on a conference call with a client whose business was hit by a triple whammy; Covid and two things that must remain confidential and which could have been avoided. We’re talking with the owners of a company in his industry that is the ONLY logical buyer for his firm. At one point my client says, “Life is not very enjoyable right now.”
This happens way too often. Owners get trapped into working “in” the business and don’t see the big picture, they pinch pennies and it costs them dollars, or they don’t have doublechecks on important elements of the business (all three in this case).There’s no easy fix, it takes effort, and often an outside pair of eyes and ears to see through the fog (of day-to-day operations). For more on this see my book If They Can Sell Pet Rocks Why Can’t You Sell Your Business (For What You Want?)