Preparing To Sell A (Small) Business
John Snow has some sound advice for owners of small businesses considering selling their business. It’s not all about valuation and hiring a business broker. He advises taking a step back, considering all the other stakeholders (partners, employees etc), spreading the word that you’re looking for a buyer and getting to know the buyer – commonsense advice often missing from How To Sell Your Business guides.
There comes a time in every business owner’s life when the question of selling the business comes up. Whether it’s to retire and live off of the hard work you put into building your empire, or to cut your losses and move on, selling is a gigantic step into the next phase of your life. Selling your business is like making it to the Superbowl: it’s the most important part of your career and you only have one shot to get it right. Here are some tips that every business owner should consider when preparing to sell their business.