Mark Osborne sold his company 3.5 years after founding it, then watched the buyer mismanage it into failure. He left money on the table, overpaid taxes, and picked the wrong acquirer, costing employees, vendors, and clients.
But it was the, the right time to start that business, the right market. And so we scaled that company very quickly and got an offer to sell that company just 3 and a half years into the business. Wow. So I went forward and I sold that business. And that's really what introduced me to this whole exit process because I found out that although we are prepared as entrepreneurs to start businesses, grow businesses, very few of us feel very prepared to go into that third phase of entrepreneurship, which is exit. And I wasn't either. So I made a lot of key mistakes that I see a lot of my clients make now. I left money on the table. I paid way too much in taxes. And most importantly, I sold to the wrong buyer, right? So it was the first buyer that made me an offer. I was very excited about it, but it wasn't the right fit for the company or for the long-term legacy of the company. Mm-hmm. And the company failed a couple years later and all my employees lost their jobs. My vendors lost their relationships. My clients lost, you know, their, their relationships as well too.
How Can You Maximize Your Business Value Before Selling? with Randy Katz Video
