"Sell what?"- my response to owner#2
I figured it would be hard for me to relate to this book. Quite the opposite. I had a hard time putting it down.
Many years ago a successful inventor tried to persuade me to buy his business. His son was not interested in continuing the business and he saw me as an ideal replacement. I did not buy it mainly because I did not have the money. It was a great business that had many products and a very good reputation.
A year ago I talked with another business owner who was considering selling his business. I was not interested in buying the business but something stood out quickly. Unlike the first businessman who had products to sell, the second owner was in the business of providing a service. Not a bad business BUT he was also the only salesperson and creative designer. He is a one pony show. Without the pony, there is no show.
While reading the book, Built to Sell, I understood how to evaluate a company as a buyer. Very very good book. It tells a story of an owner who is working with an advisor to place his business in a position to sell.
What I mostly learned is that people often work in their business,owner#2, instead of on their business, owner#1.
Today's question is:
"Could you sell your idea/business/concept without you being a part of it?"
I figured it would be hard for me to relate to this book. Quite the opposite. I had a hard time putting it down.
Many years ago a successful inventor tried to persuade me to buy his business. His son was not interested in continuing the business and he saw me as an ideal replacement. I did not buy it mainly because I did not have the money. It was a great business that had many products and a very good reputation.
A year ago I talked with another business owner who was considering selling his business. I was not interested in buying the business but something stood out quickly. Unlike the first businessman who had products to sell, the second owner was in the business of providing a service. Not a bad business BUT he was also the only salesperson and creative designer. He is a one pony show. Without the pony, there is no show.
While reading the book, Built to Sell, I understood how to evaluate a company as a buyer. Very very good book. It tells a story of an owner who is working with an advisor to place his business in a position to sell.
What I mostly learned is that people often work in their business,owner#2, instead of on their business, owner#1.
Today's question is:
"Could you sell your idea/business/concept without you being a part of it?"
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