Today's episode of the podcast, Robert Hirsch from Freedom Factory discusses "How to Sell Your Share of a Business if You Have Other Partners". Listen to the podcast, watch the video http://freedomfactory.libsyn.com/how-to-sell-your-share-of-a-business-if-you-have-other-partners or read the transcript below. As business owners, there are specific things that are very easy for us to do and there's particular things that are very difficult for us to do and honestly, what's easy for us is usually a positive viewpoint of the world - grow, grow, grow, sell more. And what's difficult for us to do is to understand that we slipped up or admit it or try and change a circumstance. One of the most tough concerns that we get is, how do I offer my share of a service? That's really difficult since it depends upon the size, right? If you have a $1 million business or a $10 million organisation, the answers are a little bit different, however they're actually mainly the exact same. So, a great deal of times in an operating agreement, you'll have something called a push pull provision, or some people call it a shotgun or a Texas buyout, and it's basically the adult version of you cut the cake and I select. So let's state I'm a 50, 50 partner with my organisation partner, and I no longer want to stay in business with them. I can decide to perform it and I'll give a number. It's a disadvantage to give a number, right? Cause you're the one cutting the cake, and after that my service partner would have a set amount of time to say, I'm going to purchase you out for that half or I'm going to offer to you for that half of the money. Which definitely makes good sense from my seat. And that's one way to sell your share of the business, however it's often not the very best way for you. And so how do you optimize it? And so this is a much better concern. If you want to sell your share of the business, my first course of action would be to figure out in this theoretical example, if my partner wants to sell his or her share of the business too. Because you're going to do far better in regards to market valuation offering 100% of an organisation than 50% due to the fact that first off, it's hard enough to sell a service. Second of all, when you have a 50-50 partner that's been there, done that quote, understands more than you, it gets really difficult to discover that ideal partner. So if you can sell it and do a new beginning together as a team, that can in some cases be the smartest move for a collaboration that's liquifying. Now, you'll make the most of the worth selling 100% however if you're only selling 50% or a somewhat smaller portion of it, it's extremely hard to get your value out of business. So when I consider my primary business like what we do at Freedom Factory, all we do is assistance business owners offer services. When I think about that, the last thing I want to do is offer. If I do want to offer, I want to make the most of the worth. So this is among those things that typically if you wish to offer a share of your organisation, the partnership relationship has deteriorated enough, or the investor relationship has actually degraded enough that you're even considering it. And generally if I find myself pondering it, it's typically 6 months too late. So I would find the right people in your corner and I would take a look at your options in order to maximize it. So often there's the choices that we see, like a push pull, and often there's the options that we don't see, like we take it to market or create a contract to offer or we do a make out or a sellers note. Thank you so much for watching. Please like and subscribe and we'll see you soon.