Reason 7 why NOW may be the best time to sell your company
Every Dealer Reaches a point where growth plateaus and stops
Remember when you first started your company? A small entrepreneurial company may seem like it’s growing rapidly in the beginning, probably adding a couple hundred accounts each year. As time passes, growth begins to slow as attrition of old accounts gradually rises. Eventually you reach a point where you need to substantially grow the company in order to sustain the growth. This often happens around 1500 accounts. Does this sound familiar?
Getting to the next level
Growing your company to the next level can be a daunting undertaking. The entrepreneurial skills that got you to where you are may not be adequate to get you to where you think you want to go. Growth often doesn’t work and you may risk losing it all.
Ask yourself these questions:
- Do you want to take on the risks and problems that accompany that sort of expansion?
- Can you manage the new employees effectively?
- Are you prepared to delegate the responsibilities to others?
- Do you have the financial resources?
- Are you prepared to risk what you have already built in order to grow it to a potentially higher value?
- Do you really need the additional value that the growth is intended to bring in order to meet your ultimate goals?