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 told her banker and buddy at the Chamber of Commerce.
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Lorraine told two people that she wanted to sell and that unleashed a flood of interest.
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Key Ideas of this episode
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1. Sell- Don't Walk Away
2. Sell If You'd Rather Golf
3. Sell if it's just a lot of work
4. Tell the Right People You're Selling
5. Put Family First
6. Sell At The Top
7. Find Experts
8. Create A Transferable Asset
9. Enjoy Life After The Sale
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Tell The Right People You Want To Sell

Remember that Jim and Lorraine had a similar motivation for selling. They both felt tired and Lorraine said, "... the fun had faded."

When it was clear to Lorraine that she truly wanted to do some new things with her time and her life, she took some new action.

Topic for discussion: What happened to Lorraine when she told a trusted friend that she wanted to sell?

Answer: She was pleasantly surprised that so many of her most trusted advisors found her business compelling enough to consider buying it. She spent 27 years wrestling this business into sustainability. And she has her stories, from the sublime – the trusted employee who stole to support gambling habits – to the ridiculous – – torching the ground in the dead of winter to break the frost to dig post holes to put up that first greenhouse. Like any successful small business owner, her tenacity and vision kept this business alive.

Topic for discussion: Why was the selling process so easy for Lorraine?

Answer: Cactus and Tropicals is a beautiful business -- inside and out. Lorraine told us that customers who don't even want to buy anything will stop by just to relax in the beauty. There is plenty of lush greenery, along with colorful blooms, waterfalls, meandering walkways and places to sit. That is the outside beauty that everyone can see.

The inside beauty is found in the accounting. When she sent her financials to her trusted friend and former banker who was already a customer, he wanted to buy the business. He had spent plenty of time roaming the luscious aisles of Cactus & Tropicals, so when he saw the hard numbers, he got excited.

The other reason Lorraine's sale went so smoothly is that she already had a relationship established with a person who was happy to help her. She didn't have to call a stranger. The entire deal moved like Lance Armstrong going down hill.

You think about it: What do you have to do to make your business beautiful both inside and out? Review the

NOTE: Lorraine did not tell her employeees that she was looking for a buyer. When the sale was closed for Lorraine she had a pizza party for all of the employees and introduced the new owner to them. She told the employees how happy she was that she had found a person who was going to love the business as she had. They learned that part of the sales contract included Lorraine continuing in a consulting role for several months. Lorraine wanted to help the new owner succeed, so outside the scope of the deal, she made a promise to some key employees. After the pizza party, she told them that if they would stay with the new owner for one year, she would give them a bonus. So far so good as we produce this episode. The new owner is happy, the key people are still on board and Lorraine is thrilled to be free from the day-to-day responsibilities while still close enough to watch the progress.

Review the transcript



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