Thinking of Selling Your Company? 8 Things to Consider First

http://ift.tt/1yAW8pm // Sold-sign

Many founders consider successfully selling their company to be the hallmark of success. However, once you’ve spent the past few years building a business you’re passionate about, how do you decide if you’re really ready to sell? Is it ever a better choice to stay on board and keep building?

To find out the answer, I asked a panel of 8 entrepreneurs how they decided between selling their company and staying on board — and to share one important takeaway for others in their shoes. These were their responses:

1. Don't sell your passion

Roger Bryan I spent six years building the first company I sold. The day that I sold it was one of the greatest accomplishments of my life. How many people actually build a company and then successfully sell it? Not a lot. Then as each month went by, and the money sat in my back account as I tried to figure out what to do next, the regret started to set in. I hadn't sold my company, I had sold my passion. You need to understand the difference. Selling a company is a transfer of assets. Selling your passion is a transfer of emotion — which is unfortunately one sided. Ask yourself if you know the difference before you agree to sell. Read more...