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. Keep your books up to date, and review them often.  When the time is right, you will not have to scramble with cleanup.

• Manage your business. You grew a successful business.  Don't stop managing it now. Engage qualified people to sell it, utilize your time to run it well.

• Sell when business is good. Economies and markets can change and the risk of it changing the wrong way is real.  Ask anyone who survived the financial crisis of 2008. 

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

• “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.