How to Decide When to Sell a Business
- 1). Check your motivation. Reasons may include disability, death, burnout, desire for greater profits, relocation, other interests, divorce, disinterest in the business model, family pressure or a sheer lack of skill at the business.
- 2). Check your timing. You may plan for a long time to sell the business, working for years to achieve one that is attractive and salable, someone may make you a great offer out of the blue, or a family or personal crisis may drive your timing.
- 3). Consider selling the business but arranging to continue working there, if you still have your heart in the business but don't want to run it anymore.
- 4). Decide whether you want to sell, and if you do, meet with your accountant, lawyer and spouse, individually or together, to determine the best time and process for selling.
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