One of the benefits of building a successful business is that you have created an asset that you can use. You can sell the business when the time is right, but don’t make this decision without doing your research before you get started with selling your business:
- Make sure the economy is strong enough to create a pool of interested buyers
- Selling your business yourself
- Using a broker to make the sale
- What buyers want and what they will pay
- What buyers look for
The prospect of selling your business can still seem overwhelming in a good economy. The way you feel about selling your business will most likely be tied to your motivation for doing so. If, for instance you’ve led the business to great success and you’ve decided you want to go out on top, or if you’re moving onto another venture, then preparing your business for sale and vetting potential buyers can be exciting. If you’re retiring, this can also be exciting, albeit probably a little bittersweet.
