Have you decided that now is the right time to pursue an exit from your business?

 

Some Things to Consider

• Know what your business is worth. Don’t even think about selling until you know what your business should sell for. 

• Prepare now. There is an often-quoted statement in the business world: “The time to prepare your business to sell is the day you buy it or start it.” 

• Sell when business is good. The old quote: “The time to sell your business is when it is doing well” should also be adhered to. 

• Know the tax implications. Ask your accountant about the tax impact of selling your business. Do this on an annual basis just in case.

• Manage the business. Utilizing a professional business intermediary will allow you to spend most of your time running your business.

• “Keep it simple.” Don’t let what looks like a complicated deal go by the boards. Have your outside professionals ready at hand to see if it is really as complicated as it may look.