Why Selling a Company is Never a Joke

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Former Lovefilm CEO Simon Calver shared the challenge he took when he ventured to sell out his company after 15 years of service. He said that the company where he served for seven years as a CEO engraved memorable moments in his life. He admitted that giving up Lovefilm is one of the hardest decisions he ever made. However, due to compelling circumstances, he was left with no other option than to sell the company to Amazon. The former executive said that he is lucky since the company that took over Lovefilm is a stable one.

In retrospect, Calver’s Lovefilm takes the lead for more than a decade in providing high-quality DVD postal services in the U.K.

How to Know That a Buyer is ‘Right’

  1. Assess the Broker. If you decide to tap a property broker to sell or even just advertise your company, make sure that you hire the right person. The person that will bring the name of your company must be knowledgeable and well-versed enough to convey the right message. He or she must be adept as well in all the facets of the operations. Otherwise, you are not going to find the right buyer anytime soon.
  2. Look on the Successor. If you are about to leave your company, make sure you find a person that shares the same values and aspirations as yours. If you keep this in mind, you will somehow continue the brand of service that you carved for several decades.
  3. Financially Stable. This is a no-brainer. In selling your property, money is inseparable. Hence, make sure you close a deal with a person that has undisputed financial stability. Conduct a background to the prospect buyer and makes sure you hire the best lawyer to check the legalities of the documents (presented by the buyer).