When is it the right time to sell your business?
Too soon is as big a mistake as too late.
Phitidis reminded business owners that their next venture will never be like the first.
He also recounted how many entrepreneurs he meets mostly regret the first business that they sold.
Scroll down for quotes from the audio below.
94.6% of businesses never get sold.— Pavlo Phitids, Aurik Business Incubator
Every business eventually either gets sold or closes down.— Pavlo Phitids, Aurik Business Incubator
Selling a business for fund-raising is different from selling to get out.— Pavlo Phitids, Aurik Business Incubator
Don’t raise money all at once. The longer you can leave it the better.— Pavlo Phitids, Aurik Business Incubator
Negotiate with your funder to get your equity back on outperformance.— Pavlo Phitids, Aurik Business Incubator
There are many ways to claw back equity if you can deliver growth.— Pavlo Phitids, Aurik Business Incubator
If you’re at the point where you want out – when you’ve built an asset of value – and you can get a clean deal; then you are in the 2% or 3% of all businesses ever started.— Pavlo Phitids, Aurik Business Incubator
Entrepreneurs don’t sell often. When you’re thinking of selling, get independent advice.— Pavlo Phitids, Aurik Business Incubator
It’s very difficult to sell an idea.— Pavlo Phitids, Aurik Business Incubator
It’s difficult to take an idea to a corporate without being robbed.— Pavlo Phitids, Aurik Business Incubator
A business is valued by smart money on the future cash flow it can earn.— Pavlo Phitids, Aurik Business Incubator
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