If you, or someone you know, is a business owner, one of your biggest opportunities lies ahead: selling your business.
This is the moment when you get to turn your years of toil and sacrifice into cash, hopefully, lots of it. Like most opportunities, making the most of it is more than a matter of luck, rather it is the result of careful and informed preparation.
Most of the guidance about selling a business focuses on the financial transaction. However, you are selling a great deal more than a balance sheet and it is important to take the entire business through a transition, so you don’t end up leaving money on the table.
Over the course of this year, I will reveal these hidden-in-plain-sight aspects and help you understand how they affect your business' sales readiness. This process is called “Ready – or Not, a holistic 9-Point Assessment for a Business Sale.”
Ready – or Not is a DIY guide to getting the business in shape for a sale that spells opportunity for a buyer and acknowledged value to the seller.
Make sure your "Opportunity Signal" is on
Most owners sell their businesses when they are “done,” out of energy, inspiration, and/or grit to keep going. They’ve brought the business to maturity, and, likely, it is chugging along without a lot involvement by the owner. They don’t want to have to invest even more at this stage.
The challenge is that buyers are looking for something quite different: a business that demonstrates growth and flashes “Opportunity Here!”
And, think about it, you want a quality buyer – someone committed to providing good jobs and a future to your employees, taking care of loyal customers, and, last, but certainly not least, able to sustain the company’s profitability, so you get your payout.
If you are curious if you've overlooked some ways you can set your business up for a sales advantage, contact me for a Business Sale Readiness assessment and action plan. I’d be delighted to learn about your situation and help you catch the wave of good luck.