Generally when a business owner contacts me to help sell their business, they have a price in mind. Many times their desired selling price is based on what they think they need to retire; however, rarely do they have an accurate market value of their business.
Understanding their personal financial needs is the first step you should take before considering the sale of their business. You should talk to you financial advisor to understand if the business sale will meet your personal financial goals.
Trying to sell a business based on what you feel you need versus the market value is counterproductive as it will lead to much frustration, wasted time and energy.
If your financial needs match the market value of your business, the business sale process will be much more productive and fruitful.
Please contact me with any questions or if I can be of further assistance.
Steve Niehaus, MBA, CBI, CM&AP