If you are a part of an entrepreneur organization (EO), you might be wondering about how you could sell your business. Is there a difference in approach? Many entrepreneurs join entrepreneur organization because it has a significant impact on their growth not only as a businessman but as a person, in general. Such groups can help you navigate through your entrepreneurial purpose.
Experienced entrepreneurs value the importance of EO in their growth, but they also stressed the importance of learning how to groom mentor relationships. If you are going to compare it in a university setting, you have two people impacting your learning – classmates/learning group and teachers/mentors.
Robert Hirsch’s experience being a part of the Entrepreneur’s Organization
Robert Hirsch is the man behind the success of Freedom Factory, one of the premiere brokerage firms in the world. When he was starting his career as an entrepreneur, he has made many mistakes that eventually helped him get through the tough road of business. Before, when he didn’t know what to do, his number one solution is to make more revenue. If something came up and he isn’t sure how to handle it, he would sell more stuff, but later on, he realized that selling more isn’t always the best solution.
One particular event that changed his life was when his dream business became a nightmare. He has venture capitalists, financing, and limited partners. It turned out they were behind the plan, and their business isn’t performing the way they want to. In an attempt to save the company, Hirsch made forum presentation and went to his group consists of seven people. It was quite helpful as the group was empathetic, but did have some constraints. The group was there to console, but none of them have a relevant experience to share.
He made a mistake, and one of the reasons for that is not a good friend of his could help him sell his business. Another reason is he didn’t go through the right process of finding out the best people who could help him. Robert met a banker and learned a valuable lesson that even up to this day, he still applies in his career; bankers don’t speak entrepreneurs, and entrepreneurs don’t speak bankers. In other words, if you want to sell your business, you don’t approach a banker to help you do so. You have to find an entrepreneur specializing in selling business.
If you are a businessman and you are planning on selling your business, do not hesitate to contact Freedom Factory. They speak business because most of them are experienced entrepreneurs and are a part of entrepreneurial organizations. Helping you sell your business is what they are best at.