Thinking of Selling Your Business? Make Sure You Do These 6 Things First
Nellie Akalp, founder of CorpNet, shares the top six things vendors need to do before taking their business to market.
Her tips include:
Being sure that a sale is what you really want
Getting the right professional advice and assistance
Finding a buyer who shares your vision for the business
Getting your accounts in order
Not counting your chickens before they have hatched and
Carefully considering your post-sale plans.
Selling your business is a BIG deal. Having launched my first business right out of law school and deciding to sell it less than a decade later to an eager buyer, I know this well! Selling a business brings both excitement and uncertainty. Whether you’ve been approached by someone who has interest in purchasing your business or are considering looking for a buyer because you want to move onto something new, you need to prepare for what’s ahead.
Looking back on my experience, I realize I could have been better equipped (both from a business perspective and in terms of personal expectations) to navigate the process. So you have a smoother transition, I suggest you consider taking the following steps before you sell.
Incidentally, PartnerOnCall, has a free webinar coming up on Preparing Your Business For Sale.