When is the Right Time for a Budding Entrepreneur to Sell Their Venture?

Budding Entrepreneur Sells Venture: When is the Right Time?

Deciding to sell a business that you have poured your heart and soul into can be a tough decision for any entrepreneur. However, according to Jessica Lynch ’13, MS’13, MBA’18, the answer is to consider selling immediately. Lynch recently sold her wellness and health coaching venture, Wishroute, and shared her insights on the process.

Lynch advises entrepreneurs to start building relationships with potential acquirers as early as possible. She emphasized the importance of prior connections and how they can make a significant difference when it comes to selling a business. Lynch’s own experience with Wishroute’s sale to Suggestic and licensing of IP to Guidely and Runzy highlighted the value of these relationships.

For Lynch, economic challenges played a significant role in her decision to sell Wishroute. Facing market dynamics changes and the impact of the pandemic on her customer base, Lynch had to make tough choices to ensure the well-being of her investors and employees. Ultimately, she decided that selling was the best option for all involved.

The process of selling a business can be complex and time-consuming, lasting anywhere from six months to a year. John Hallal, an expert in mergers and acquisitions, emphasized the importance of setting up the venture correctly from the start to ensure a smooth sale process. Lynch’s own experience navigating the sale of Wishroute taught her valuable lessons that she now shares with other entrepreneurs.

Despite the challenges and tough decisions involved in selling a business, Lynch remains optimistic about the future. She continues to help guide fellow entrepreneurs through the mergers and acquisitions process, drawing on her own experiences and learnings.

Whether it’s due to market challenges, personal reasons, or a desire for a new opportunity, the decision to sell a business is a significant one for any entrepreneur. Lynch’s story serves as a reminder that sometimes letting go of a venture can lead to new opportunities and growth, both personally and professionally.