November 1st, 2013
By Andrew B Morris
Much is written about the art of the exit. When asked how he become so rich, John Paul Getty replied, “by selling too early.”
Selling, and of course, buying is all about timing. We need to read the cycle of our sector, the economy, and the financial world from both a debt and equity perspective. If these are in alignment and confidence is high, we may sell more easily and at a full price.
But also take into account that selling a business is a very lengthy process and by the time we are ready to complete, the market may have cooled, as well as the buyer.
So if we’re intent on an exit and the price meets expectations, don’t be persuaded to wait until the market ripens.
Don’t be greedy.
Don’t be afraid to sell too early.
Enjoy the cash and move on with the next phase of life.
About Andrew Morris
Andrew is Chief Executive of the Academy for Chief Executives, helping businesses to accelerate growth through better leadership. As part of this role he chairs and mentors a group of exclusive central London Business Leaders in Academy Group 1.
Andrew describes himself as a creative businessman, who enjoys meeting people from all facets of life. His mantra is ‘take your job seriously, but not yourself.’
– See more at: http://www.chiefexecutive.com/blog/seize-the-moment/#sthash.mQExw1eU.dpuf