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Business Valuation for the Modern Businessman: Selling Your Creative Business
Just for those who have the time, this is a point by point recollection of the sale of my studio. I didn’t submit it as an article because it’s full of subjective observations and non-universal methods making it less educational and more of a personal tool to be used as you deem appropriatee. I do not claim that this is the best way to sell your business, nor do I hold anyone responsible for the contents of the following text aside from myself, but I do sincerely hope that it gives you the inclination to pause, reflect on your business model and consider the future.
Enjoy!
Business Valuation for the Modern Businessman: Selling Your Creative Business
By: Michael MunkittrickBusiness is business, or so the story goes, but what happens when your business finds its way to an interested buyer? Are the numerous hours of hard work, faith, effort and sweat invested a tangible, salable thing, and if so, what is your business worth on the market? What is it worth to you? What is it worth to them? This article is a peek inside of a rather rare occurrence that pedaled itself to my doorstep and stimulated me to reevaluate what I have been doing all of these years. It is an actual account of the sale of a media company with as much detail as I can offer. The hope is that it will allow you to assess your own value, worth and find out if your career has potential as a property.
Late in 2005 I was knee deep in commercial projects, my first music video for a known artist and a host of industrial pieces. I was working so much that the night never ended and the days never began. In fact, I recall sleeping 2 hours a night for almost two weeks while chomping bits away from unreasonable deadlines. I bled coffee and I breathed dust. To clarify, I was near dead tired.
The busy months generated revenue that allowed me to rest for long enough so that I didn
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1 Reply
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Thanks for such a detailed recounting of your journey, Michael.
I wish you well as you embark on the next one!
debe
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