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I saw an article by Built to Sell author John Warrillow on Inc.com entitled, “Selling Your Business for Parts“. I liked that title. It has cache. You may think that selling your business for parts couldn’t possibly have cache because that means that you failed. Well, the last time I checked, we all fail. The only real way to learn is to fail. When you learn how to walk you constantly fall down. You don’t stay on the ground and crawl for the rest of your life. You get back up. As we mature into adulthood we often forget that and end up associating a lot of psychic pain with so-called failure. Failure is really only a learning experience. The real failure occurs if you don’t learn something from that experience and decide to never try again. Practice makes perfect. In the tech sector they say, “Fail quickly.” Failure is expected…but so is learning from that and eventually obtaining great success.

With that said, selling your business for parts acknowledges that your business as a whole didn’t make it but you probably created some value in that business. By considering, “I can sell some parts of my former business.”, you force yourself to think about what has value and why. This leads you down the road of what Microsoft called a post-mortem. What still works? Why? What didn’t work? Why? By breaking what you had down into the business’ components, you get a better, more realistic view of your business, your capabilities and skills, and your weaknesses. Perhaps the business components that are sellable align with your strengths. Whatever your post-mortem analysis, looking at the business you founded but are now leaving, from a component perspective can help you realize that a lot of good came out of the business…and that you may actually be able to reap financial benefits now for those valuable parts.

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About Tiffany C. Wright

Hi! I,Tiffany C. Wright, am the author of the ebook, "Help! I Need Money for My Business Now!!" and the book "Solving the Capital Equation: Financing Solutions for Small Businesses", available on Amazon. I am the president of Toca Family Business Services, a short-term & project-based interim management & strategic and financial advisory firm, located in Atlanta, Georgia. In the past five years I've helped small and medium companies restructure and obtain over $31 Million in financing and a similar amount in purchase orders and contracts. I have an MBA in Finance and Entrepreneurial Management from the Wharton School of Business at the University of Pennsylvania and a B.S. in Industrial and Systems Engineering from The Ohio State University. Personal: I enjoy investing. I am a prodigious reader of everything from business books, magazines, and newspapers to horror and popular fiction. I read 4-6 books per month. I also love to travel. I've been to 33 countries on 5 continents and lived in Japan for 2.5 years and aim for a foreign locale twice a year. I am also an athlete and run track on the Master's Circuit. The highlight was placing 7th in my age group in the 2007 World Master's Track and Field Championships in Italy.

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The Resourceful CEO, Tiffany C. Wright

the president of Toca Family Business Services, a strategic and financial advisory firm which provides short-term & project-based C-level management. She is the author of Solving the Financial Equation: Financing Solutions for Small Businesses, available on Amazon.

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