Why would you sell a business when that isn’t going to make you rich?
Thinking of selling or at a crossroads about what to do next? Let me help.
Selling a small business that isn’t going to make you rich? It’s humbling. I know because I’ve just done it.
Exactly a year ago, I appeared on Dragons’ Den. Now, I’m about to sign on the dotted line to sell the business I went on with - my skincare brand, Faace. When I applied to Dragons’ Den two years ago, I was fully invested in taking Faace to the next level. I never would’ve believed that I’d be here now, preparing to sell.
The moment I knew it was over
You might not know the final reason I decided to sell Faace. In brief: my manufacturer let me down on an order that was crucial for generating sales after the show. This forced me to change suppliers and reformulate our hero products. Formulating products is a lengthy process – put it this way - 18 months later, we still have a way to go.
I pushed myself out of my comfort zone to do the show. I put all my energy - and, in hindsight, all my hopes - into it. From the application, audition, and facing the Dragons, to waiting for my episode to air, that time was filled with apprehension. I was almost too scared to be excited.
But then it aired, and the response was exactly what I’d dreamed of. So, the fact that I couldn’t ride that wave - simply because we didn’t have more product to sell - was more heartbreaking than I realised at the time. That moment broke me. It wasn’t just about the sales; it was the weight of five years resting on a single failure.
Of course, the decision was layered with other disappointments and my fading resilience in handling the highs and lows. But ultimately, that was the catalyst for me to know it was the end of the line.
Wondering how to sell a business?
People keep asking me for advice about selling their businesses or deciding what to do next. As you’ll probably know by now, I love sharing honest accounts - the good, the bad, and the ugly. So, if you’re confused about your next steps, this might help. Here are my lessons learned from selling a business.
Available to paying subscribers.
If you subscribe for £5/month, you’ll get:
A guide to all the steps I took to sell my business.
Insight into what it actually felt like.
Examples of how I generated interest, timelines, and an account of the overall experience.
Access to my sales deck for prospective buyers.
Feeling stuck?
If you’re feeling stuck and want to discuss your options, annual founding members can secure an hour of my time to talk about this- or any other topic of their choosing.