Selling a Business

Selling a business

Most business owners are selling a business only once in their lifetimes. (Unless you are a serial entrepreneur) Knowing what the process entails ahead of time will allow you to make an informed decision as to what exit and succession options are right for you and your business. Today I'm going to talk to you about the components that make up the business sale process. I have organized the process into three areas.

They are:

• Fundamentals of Pricing
• Preparing for a Sale
• Executing the Sale Process

Fundamentals of Pricing

Many factors affect the price a business achieves when it is sold. Some of these are out of your control but many are controllable. Understanding these factors allows you to make a realistic evaluation of the price potential of your business. It allows you to make adjustments that will optimize your exit strategy.

Preparing for a Sale

Many priorities chosen by business owners actually make it more difficult to sell the business and decrease its price potential. With proper preparation, you can put the factors you control in harmony with the goal of achieving the best possible outcome from your business sale.

Executing the Sales Process

The process of bringing your company to market can be time consuming and draining. Time-tested methods can be utilized to ensure efficient use of your time, maximum exposure to the market and the probability of gaining the highest available price for your business. I hope you will find this series a valuable tool for attaining your personal business goals.

Think I left something out of the process of selling a business? Let me know in the comments.