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Preparing Your Business For Sale

Preparing your business for Sale, represented by image of businessperson working on laptop
When it comes to preparing your business for sale, the journey involves much more than just putting a price tag on it; it requires meticulous preparation and strategic positioning to ensure that your business is an attractive asset to potential buyers. Beyond knowing how to sell your business, at the core of preparing is answering the fundamental question: Does the business run independent of your involvement? Can the business operate without you Many entrepreneurs and business owners don’t realize the difference between owning a business and owning a job. If your presence is critical for the daily operations, then you're essentially self-employed; you own a job. This dependency often scales inversely with the business's size. When you are the rainmaker, leader, manager, and CEO all wrapped into one, what you're selling is limited to tangible assets, rather than a sustainable enterprise. A business that can't operate in your absence is…
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How to Sell Your Business

How to sell your business represented by image of 2 businessmen shaking hands.
Embarking on the sale of your business is not just about cashing in on your hard work—it's a complex process that reflects the culmination of time, investment, and dedication. This journey to a successful sale begins with understanding the pitfalls and planning meticulously to avoid them. In this guide that follows, inspired by the book Tips & Traps, you’ll benefit from strategic advice and essential steps to maximize your wealth during the sale. It's a path that requires a team of professionals to navigate, ensuring you get the true value for your business while being prepared for both planned and unexpected opportunities. And it all starts with the right mindset. Mindset for Selling Before you can approach the undertaking of selling your business, you will want to understand your motivation for selling. What are the targets you want to achieve? What is your ideal outcome? Whether the intent is to…
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