Kosi Stobbs owns multiple seven and eight figure businesses, and he’s offering advice to any entrepreneur looking to sell their company. F$CK BROKE: LET’S GET RICH is Kosi Stobbs’ financial manifesto to building wealth and reaching the top money earners in North America
Kosi Stobbs on 5 Things To Consider
When Selling Your Business
"Selling your business can
be the result of a myriad of
reasons," Stobbs says.
When should you sell your business? "The
timing of when to sell your business is crucial."
Kosi Stobbs adds, "And that encompasses a lot
of things." He explains that the timing of selling
doesn't just relate to the market - it relates to
what period of life you're in, what stage your
business is in,
So the answer of when to sell
your business isn't going to
be a linear process, and it
isn't going to be the same for
Why are you selling your
business? In a world so
obsessed with the validation
from others, it's important to
really understand why you're
selling your business.
"You want to ask yourself if
you're selling the business for
yourself or for someone else,"
"Because if it's for someone else, you should
consider why exactly you're selling." In a few
years after selling, are you going to look back
and regret the decision you've made, and are
you going to hold someone else accountable for
it? What is the value of your business when you
decide to sell it?
Who are you selling your business
to and what are their plans for it?
The most imperative question to
ask yourself is who you're selling
your business to, and furthermore,
what are their plans for it.
"If the mission of your business
is something you don't hold
lightly, you'll want a buyer with a
similar mindset." Keep in mind
that this isn't just for your
Selling a business isn't an
easy decision, but with the
right buyer, it can be a
"Selling your business is a
long and time-consuming
process," Kosi Stobbs
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