• Fri, May 01, 2020
  • 7 Things to Consider When Selling Your Company.
  • Question-mark-and-thinker

  • It is never too soon to think about selling your business. Even if you have no intention to sell your business, it’s wise to be prepared.

    A timely article from COLUMBUS CEO highlights seven points to consider. 

    • Are you ready to sell? You have goals and plans post-sale, and are emotionally ready for the transition.
    • Get help. Utilize professionals to help you. Wealth Manager, CPA, Attorney, Business Intermediary/Broker.
    • Be ready to address opportunities. Learn about the business sale process, understand what prospective buyers will be assessing.
    • Make sure financial records are in good order. Clean books and records increase valuation and reduce unnecessary due diligence and time with prospects.
    • Consider how a sale will impact your employees.
    • Know the actual value of your business. This may be difficult, but needs to be unbiased and unemotional view of what a prospective buyer would be willing to pay.
    • Trust your instincts. Based on the input from your professional network of advisors, you need to be comfortable with the decision.


    The team at Edison Business Advisors are available to help you understand the business sale and transition process.

     

    LINK to the COLUMBUS CEO article by Lin Rice.


    Steve Niehaus, MBA, CBI
    [email protected]
    239.565.3171