What percentage of companies does the speaker claim will never get sold?

Name: I want to sell my business: Get Clear on THIS
Uploaded: 2024-03-26T18:44:22+00:00
Duration: 59 s
Channel: Sarah Sullivan
Description: Speaker (Sarah Sullivan) explains that most business owners fail to plan exits and that about 80% of companies never get sold. She identifies three main…

Sarah SullivanFounder and CEO of SuGo Capital

I want to sell my business: Get Clear on THIS

26 Mar 2024 · 1 min

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Speaker (Sarah Sullivan) explains that most business owners fail to plan exits and that about 80% of companies never get sold. She identifies three main keys for preparing to sell: (1) get clear on the desired outcome/target (e.g., retirement, passing to children, or handing off), (2) assemble the right team, and (3) keep score — track progress and metrics so you can iterate, fail fast, and stop what doesn't work. The message emphasizes proactive planning and continuous measurement to make a sale (or other exit) possible.

Questions this video answers

80%

Chapters

Well, there are three main keys that all of us need to get clear on. And the fact is that 80% of companies will never get sold. The vast majority of business owners don't sell businesses because they don't plan to sell them. They're so busy looking forward and, and making money. And I love that about entrepreneurs. They're always looking forward. But it's really important for us, as we look forward, to understand that at some point we might want there to be a finish line. That could be retirement. It could be. I've done enough on this project. I'm done with it now. I want somebody else to have it. It might be that my kids are growing up in a business that I started and they're going to want to take over at some point. But what we need to do is figure out what's the outcome that we're working to achieve. So we need to get clear on the target. You got to get clear on the outcome. You've got to get the right team together and you have to keep score on what's happening so that you know what's working, what's not. And you're always getting. You're failing fast, getting rid of stuff that doesn't work and moving on to the things that do.