1. Things to think about upfront

August 17th, 2012

Each business owner will have different motivations for wanting to sell their business, it could be that you seek a lifestyle change, or it is time to retire.

Whatever the reason, timing is everything. Don’t hang on and leave it too late, sell your business when it’s right for you, and when it’s right for the business.

The first step is identifying a target date when you’d like to stop (think 18 months ahead as a minimum), and transition the business to new owners. The challenge here is to think ‘transition’ and not ‘sell’ – you have to keep the business going during the selling process, and your own motivation as to ‘business as usual’. Your business plan must run in tandem with your exit plan.


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