Are you thinking of selling, but hung up on fears and doubts? Shift your mindset so you can focus on the benefits and rewards.
This post was first published on my Medium blog—follow me there for the most up-to-date entries!
What is stopping you from selling your business? In this series of three posts, I’ll talk about overcoming the barriers to selling your business: the mental barriers, the practical barriers, and the external factors. This week, we’ll discuss the internal barriers — the ones that are only in your mind.
If you’re a microbusiness owner, you’ve probably encountered several doubts, fears, and barriers that make the idea of parting with your business feel overwhelming. I’ve been there. I remember wondering, “Who would want to buy my small business?” or thinking, “The timing just isn’t right.” If you feel weighted down by those common fears, you might be looking for a way to overcoming the barriers to selling your business.
The good news? Those barriers are more manageable than you think. In this post, I’ll help you identify the common mental and practical barriers to why founders don’t sell or transition, and I’ll show you how recognizing and breaking through them can open up a world of possibilities.
1. “No one would want to buy my business”
As the founder of my microbusiness, at first, I couldn’t shake the fear that no one would be interested. After all, I was running a very small, niche business — how could anyone see value in it? But as I quickly learned, overcoming the barriers to selling your business often starts with shifting your mindset.
The truth is, buyers are out there. And many are specifically looking for microbusinesses just like yours. Whether it’s a first-time entrepreneur looking for a simpler business to acquire or a seasoned investor seeking a niche with growth potential, there’s always someone out there who can see the value in your business.
When you begin to see your business for what it truly is — whether it’s the loyal customer base, unique brand, or operational systems you’ve built — you’ll realize that there are people who want exactly what you have.
So, if you’ve been holding back from selling because you don’t think anyone would buy, ask yourself: what do you see as valuable in your business? You might be surprised at how much others will value it, too.
2. “The market is too uncertain to sell right now”
Another barrier I faced was the fear of selling during uncertain times. Maybe your industry is facing a downturn, or the broader economy is worrisome. But here’s the thing: overcoming the barriers to selling your business often means embracing uncertainty.
Yes, markets fluctuate. Industries evolve. But that doesn’t mean there aren’t buyers out there. In fact, many buyers are actively looking for opportunities in tough markets because they see potential for transformation.
When you understand your business’s value, even in a down market, you can confidently present it to buyers. What you might see as a barrier — economic uncertainty — could actually be the opening a buyer is looking for to get in at a good price or turn things around.
The key is positioning your business for success. Show buyers how your business is positioned to thrive despite market fluctuations. When you’re able to do that, you’ll see that selling your business doesn’t have to be contingent on perfect market conditions.
3. “I don’t know where to start”
This was perhaps the most paralyzing barrier for me. I had no idea about the required steps, or where to start. Take heart! If you’re feeling stuck in the same way, you’re not alone. Overcoming the barriers to selling your business begins with finding the right support.
The process of selling a business can seem overwhelming, but you don’t need to figure it all out by yourself. As my father told me, you can hire all the brains you need!
Once I connected with the right people, the whole process became a lot clearer. It’s not about knowing everything — it’s about having the right experts guide you through the steps, give you the support you need, and help to make the transition much smoother.
4. “My industry is changing, and I felt like my business was losing its edge”
My industry wasn’t exactly “dying”, but it was certainly changing. I was dealing with stricter compliance requirements and facing more competition than ever before. My business was becoming harder to manage, and at the same time, I felt like Mrs. Irrelevant.
But here’s what I learned: don’t get stuck in either the present or the past. Overcoming the barriers to selling your business means recognizing the potential even in the current circumstances.
Buyers are always looking for opportunities — even in industries that seem to be struggling. In fact, buyers often see these situations as ripe for innovation or transformation. What might look like a disadvantage — whether it’s market decline, tougher regulations, or increased competition — could actually be a unique selling point for the right buyer.
If you can show that your business has a strong foundation and highlight the opportunities for growth despite industry challenges, you might find that buyers are not deterred by the complexities. Instead, they could see those challenges as an opportunity to make improvements and bring the business to new heights.
By positioning your business as an opportunity for reinvention, you may find a buyer who’s excited about stepping in and turning things around.
5. “Selling is too expensive, or I can’t afford it.”
When I first thought about selling my business, my immediate concern was the cost. But overcoming the barriers to selling your business often means recognizing these costs as investments.
I eventually realized that the right professionals — whether brokers, accountants, lawyers, or coaches — could actually increase my business’s value and make the sale worth far more than the upfront costs. These experts can help you navigate the sale more smoothly and secure a better deal.
Instead of viewing these fees as a barrier to selling your business, think of them as ways to maximize your return. The sale could provide the financial freedom you need to retire, reinvest in a new venture, or simply take a break. Recognizing the financial opportunity in selling your business can give you the confidence to move forward and see the investment as a step toward a brighter future.
Moving beyond the barriers to selling your business
When I first thought about selling my microbusiness, fears and misconceptions held me back. The first critical step to freeing yourself from the emotional weight of your business is by recognizing these barriers. When you reframe your barriers as opportunities, you gain the confidence you need to reclaim your time and your future.
If you’ve been hesitating about selling, I encourage you to take that first step. Overcoming the barriers to selling your business can lead to newfound freedom and confidence. Whether you’re ready to retire, explore a new venture, or just take a break, selling can help you reclaim your time and shape your future.
This post was first published on my Medium blog—follow me there for the most up-to-date entries!