How to Sell a Business
Selling a business is one choice you have after you have scaled it. “Cashing Out” is a reward for all your hard work, but not all businesses can be sold and if you do decide to sell you want to position yourself to get the highest sale price possible.
6 Reasons to sell a Business
Your business is doing well. You want to sell when you are at your peak, not after sales are declining, you’re being sued, or some other problem has arisen, because then you lose your leverage and your sale price is much lower.
Selling frees up the equity that has been built up in the business, so it can be used for other investments, travel, retirement, charity work, or other things of the owner’s choice.
Selling ends the stress of ownership, something that is always present at some level because as the owner you know that you ultimately have responsibility-whether that is from personnel issues, bad social media reviews, threatened or real lawsuits, etc…
You simply don’t enjoy it anymore. It will be obvious to your family, team members at the
business, and customers if you don’t enjoy it, and sales will drop.
You have received a very attractive, unsolicited offer.
Your kids, family, or friends want to take the business over and run it their way.
We Cover Everything You Need to Know, Including:
How to price your business correctly.
How to maintain confidentiality during the sales process.
How to maximize your business’ profitability.
Making sure your company financials and tax returns are up to date and accurate.
Making sure you are positioned as a clear brand and leader in your market sector and
territory.
Retaining key employees during and after the sale.
Making sure your employee handbooks and operational systems are up to date and
modernized.
Addressing any existing or potential liabilities proactively.
Making your buildings and grounds spotless and professional inside and out.
Assembling a good sales team of professionals for the sale process.
Updating your databases and CRM system.
Compiling your sales data by SKU, service, customer, and any other way you can think of.
This data will help your prospective buyers get a clear picture of where you get your sales
and profits, which gives them confidence and helps them envision other opportunities.
And much, much, more.
