4 Things to Consider
Let’s talk about selling your business.
Cue the theme music to the movie Jaws. I see the terror on your face as you think about a larger predator ripping your business to shreds. I see you imagining your staff scared, legs dangling in the water, unsure about what’s underneath. I see you mentally swimming helplessly out in the open ocean, making life-changing decisions without clarity on what’s to come.
Stop the music. It doesn’t have to be like that.
Now cue the ukelele. Picture a calm sea, a sweet breeze, a sandy beach and your friends and family sipping Mai Tais next to you as they congratulate you on a very challenging but very successful decision that you just made. To stick with the sea theme, you just took your small fishing boat and transformed it into a large fishing operation where everyone benefits.
It doesn’t have to be Jaws. It can be Mai Tais, instead. Selling your business doesn’t have to be wrought with fear and anxiety. It can be an enjoyable process that lands you and your co-workers in a better situation.
And sometimes, it’s just the right decision for your business.
Nick Starr of Starr Group Insurance in Milwaukee, Wis., is a third-generation family business owner. Recently he and his leadership team decided to roll their business into Acrisure, a larger insurance firm.
Starr notes that it was clearly the best decision for their company for several reasons: it provided a succession plan for the second-generation owners, offered a larger breadth of services to their clients, and allowed the Starr Group to continuing operating in the same way with the current leadership in place. He says it was a great opportunity for growth without losing who the Starr Group is.
Every situation is different and so is every business. Whether it is the right decision to sell, or not, you can simply consider selling without feeling like you’re drowning. Ask yourself the following:
If you are considering selling, beginning to examine options, well into the process, or have a story to tell about your experience, we’d love to speak with you further. Please reach out!
This post is loosely based on IOL Podcast #141: Vision & Culture Attract Talent with Nick Starr from the Starr Group. Give it a listen.
Blog Written By: Ashley Buenger


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