Entrepreneur

First of call, CONGRATS! Take a moment to realize you are successful. To have multiple interested buyers is amazing!

A few things to consider:

1. Make a pro/con list on paper for each company and if you keep the company and don’t sell. I’m sure you’re doing this, but sometimes the physical act of writing helps you think through things in a different manner.
2. If you feel like you want to keep going, is there a way to partner with the potential buyer vs outright selling the company?
3. Do you have a second in command? Someone that knows the business and shows interest is growing with you and the company? If so, it could be worthwhile to delegate authority and have them handle the daily operations while you focus on strategy, growth, and client relationships.

Hope this helps. Best of luck. And remember, you deserve this, the hard work and sacrifices you’ve made up to this point have made this opportunity real! Maybe if you have some capital in hand, another idea comes along that you could explore.

Take a week away from the company and all offers then come back to it. After that week, see how you feel returning, see how you feel having to pick back up and then decide is it you or is it time for a change.

For myself, property has always been the optimal route. However, property market at the moment is a little bleak and material costs are through the roof. It's a case of seeing what challenge you'd prefer and going that route.

Sell part of the company not all. Read DHH and Dan Martell.

A smart man once told me that when someone offers a life changing amount of money for something you've built, take it. It's a rare opportunity and you'll still have plenty time left to build something new once more.

Take the money. I sold my business earlier than I initially envisioned and for a bit less value than what I had hoped to build to, but I took the opportunity when it was offered and I am glad I did. Within a year or so, the overall market space in which the business’s products existed took a massive dive and still hasn’t totally recovered. Had I not sold when I did, the business would have almost certainly gone under. Like the old saying “a bird in hand is better than 2 in the bush”.

Take the money, relax for a bit, and move on to the next chapter.

34M, no kids. I was in a similar position two years ago. Even though I sometimes miss running it, I wouldn't want to be doing it again. I've changed considerably after selling it.

I now spend more time on life outside of work. Hobbies, relationships, friends, experiences, etc.

Whatever you decide, be committed. No looking back, you're in a good position either way.

Appreciate your advice and experience in this. Relieved you haven’t looked back since.

I'd say take the money and start a new chapter! You have so much time left.

Don't sell. Dream bigger. Grow further.

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Best of luck to you brother. Give us an update. :)

Calculate how much you make annually after tax then compare it to how much after tax you would have from selling the business (taxed different, can end up being much less % than your income tax).
How many years would it take to earn the same amount? Where's the business / industry headed? Since 3 companies have offered to buy you out, im going to assume theres plenty more room to grow.

Have you invested in property before? Because everyone says this (once i have X amount i'll just invest in property) but its just like running a different kind of business. No guarantee its lower stress. Except with your business you already have experience and profits.

I was in your position couple years ago, and I sold. My thought process was I would take a break (sidenote: took wayyyy longer than i should, money and comfort kills dreams) and use the money to start a new business, invest in real estate, or buy a business.

I recently had a thought pop into my head...I already had something profitable, and I knew the ins and outs, and what I needed to do to increase sales. The odds of me doing this for my own business is way higher than anything else I could spend that money on.

I'm not saying i regret it though. Like you, I went through a period of time where I wanted nothing to do with the business, and selling it felt like the weight of the world off my shoulders. So even though I knew what I had to do...I wouldn't. And I think if i held on, the business wouldve ended up declining, and then if I wanted to sell, my offers would be much lower based of the decreased revenue. When I sold, it was on the uptrend. So, think about the numbers, and what you need to do, and most importantly, can / will you actually carry it out. When I'm in this position again, I'm 100% going balls to the wall.

Another way would be to keep a percentage of equity in the business for yourself. Negotiate for $900k plus 15% of the business for you for example. That you you will cash out, reduce your exposure, gain new partners who will inject new energy and will have skin in the game, and you’ll stand to gain for the long term upside.

This would also allow you to pass the reigns to a new manager, and thus free a ton of time that you can use to find your next venture (I wouldn’t stay as an employee, only as a board member and advisor). The whole thing is appealing for the buyers because it signals that you have confidence in the future of the business, and keeping the founder around guarantees stability for the newly acquired company. Since you have 3 potential buyers, you can put the offer on the table and choose the one who accepts it, so this solution will even help you choose the correct buyer.

You were on shark tank and decided to spend your deliberation time HERE on Reddit?!?

Jkjk, best of luck lad. All will work in your favor! The advice others have given to your post here is helping me as well!

You dreamt of this day. It’s created a small fortune for you. Step forward and receive it. This is what you worked so hard for, your final payday. Take it and go live the rest of your life without the burden. Some babies we get to let go. Try and figure out if this is one you can. Imo sums of $ like that don’t come often and since the economic climate could get much worse going forward, it’d be nice to have a cushion beneath you, to let it all blow by and calculate your next move. Think of it not as the end, but a beginning. And maybe you started having doubts bc you started realizing

Never take the money, always gamble.

Care to share what the business makes in profit per year ? And the type of industry? Based on those numbers I’d sell for a +4 EBITDA

Looking back, I was in a very similar spot two years ago – my business was at the five-year mark, and my shares were valued around $1 million.

I’m truly glad I chose not to sell. In the following two years, we sustained our growth, and what I’ve realized is that as your business expands, so do the attractiveness and value of the offers you receive, especially the EBITDA multiples. Today, these offers put my equity’s valuation at about $2.5 million. This doesn’t even include the $500,000 to $600,000 I’ve accumulated in dividends over the next 2 years.

I’m really relieved I didn’t leave all that money on the table!

It all comes down to:

• are the offers fair?
• how much can you get after tax? try finding a way to reduce the tax on capital gains
• what is your utility of this money? It's not the same if you are already a millionaire or if you are broke, if you want to make a family soon and chill or if you want to keep working, if you can find a job paying 400k per year, etc.
• how risky is the business? you feel like it has good odds of failing to scale up so if you have no other asset, it feels better to sell
• can you find a middle ground (e.g. keep some ownership and control, to reduce your exposure, maximize your utility and your future profits)?

Nice! What type of business? It’s hard to let go of something you built. But, you can do it again!

Sell! If the company was that stressful to run it's likely you won't survive by the time it thrives. You can also get less money and still retain equity in the company if you feel like it will do a lot better in the future.

I sold my company earlier this year and it feels great. Less stress and more time for me.

If you're still contemplating OP, take the money and exit! Or altenatively, you could try asking if you could still stay on board for a period of time, to provide feedback etc.

I promise you, the relief will come. Mental health is important and I think you've slogged enough for a well deserved break.

$900k is nice. It’s not quite “never work again” money though. I would stay in, get it to $3-5m, and sell for retirement money. The fact you have 3 parties vying for your business now suggests it will only grow in value in the years ahead.

Use that money, to start multiple passive income saas business. I'm just sitting on amazing domains waiting for some of my equity from previous companies to sell, so I go full steam ahead of my saas and amazing business.

Or start an Amazon business with that 100k of that and make way more.

Take the money. Change your life.

You can go back to grinding after you reorient.

Depends of your risk tolerance. If you're confident you can take it the next level then fucking do it. If you don't want to gamble on yourself take the money and run.

Obviously you cie still have some potential to grow and you are not the only one to see it…..

The real question is : does it still make you proud and happy to operate it? If the answer is yes then it is a no brainer …. Just keep it and reassess in a few years.

If the answer is no then…. Still a no brainer just different decision to make.

How long would it take these companies to build up their internal organic competitors? I think you have an answer there as you had an idea showed it was profitable now the cats out of the bag and if they want it bad enough they can make their own.

Depending on the potential that you still can see in the business. If it is harmfully stressful, not sure what’s the next step, burnt out, then just take the money. Take a break and see the world in a new perspective. You can always start something new, with the bigger safety net now.

If you see huge potential yet to realise, and have a vision and plan on how to execute it, I would keep the business and grow it further.

Your decision totally depends on your sector and future outlook. There’s a lot of comments here saying to take it because you “never know the future”.

I think that is total BS. If you’re in a sector that is thriving and growing, then you can continue to grow your company to 3-5M instead of the paltry 900k. But if you think your sector has peaked then sell. Only you can make that call.