Mark Osborne explains why half of business owners are forced to sell due to illness, death, or divorce. Without preparation, 80% of businesses that try to sell never close a deal. The fix: reduce founder dependency and lower customer concentration before an offer arrives.
I saw the statistic that 50% of all businesses will be forced to sell when they're not prepared to sell. And that's either through disease, death, divorce, disagreement, or even just sort of failing performance. And that doesn't even take into account those opportune phone calls that come from private equity saying, we think you're running a great business and we'd like to make a make an offer. But if you haven't taken the time to do some of those things like reducing founder dependency and customer concentration, A, you might not be able to sell. Something like 80% of businesses that try to sell never do.
How Can You Maximize Your Business Value Before Selling? with Randy Katz Video
