How can I sell a nonprofitable business that is relatively new?
My 2 1/2-year-old business is still not at break even, although I have won a 1,350,000 Euro government contract that will commence in 2009-2010. This contract alone will generate 600,000 euros of profit. We are the sole agents in the country for this product.
Sell the contract--preferably to one of the bidders you beat out. They will have a better idea of the value of the contract (they will discount the value of the contract back to a present value and offer you a price) and will have the resources in place to actually deliver.
Brad Sugars is the founder and chairman of ActionCOACH. As an entrepreneur, author and business coach, he has owned and operated more than two dozen companies including his main company, ActionCOACH, which has more than 1,000 offices in 34 countries.