Selling a business is often a standard process, but not if you’re selling a personal branded business—especially if it has your name on it. The awkward and complex processes involved in transferring ownership of such a business can be further exacerbated by emotional resistance. How do you go about selling a personal branded business? What should you do to separate from a company named after yourself?
In this episode, I share my thoughts on selling personally branded businesses and what owners can do to ensure the transition is smooth for both the buyer and seller. I outline the different options for sellers and why it’s critical to have succession plans. I discuss how to find the value in the company you’re selling and why your competitors are a good reference. I also describe why rushing your succession plan is a bad idea.
“If you’re a personal branded business, don’t be discouraged by this notion that you can’t exit.”
– Adam Rundle
This week on the Expensive Advice Podcast:
- The selling options available for personally branded businesses
- Creating succession in your business
- Finding the value of your business during the selling process
- Some of the most effective ways of moving away from your business
- How competitors can help you sell your business
Turning Boring Money into FUN Money
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