| There comes a time where most business | | | | Coming to grips with the simple fact that leaving |
| owners will find themselves asking "what shall I do | | | | your business is going to eventually happen for |
| with my business?" | | | | one reason or another is difficult, especially when |
| Like most business owners, you have put | | | | you have invested so much time and energy. Try |
| everything into your business to get it where it is | | | | and put your emotions to one side for a moment; |
| today and it is a big part of your life you are | | | | sit down and really think hard about what you |
| parting with; there can be a lot of emotion tied up | | | | truly want from selling your business. |
| in the process but it is important to work out | | | | What is your desired outcome? |
| what you really want and follow a realistic path to | | | | What will you do with the proceeds? |
| get there. | | | | What about tax? |
| A well thought through and planned formula for | | | | What will you do with your time? |
| selling a business will ensure you achieve a great | | | | We all know that it is preferred to be deciding |
| result for you and the future ongoing success of | | | | when, where and how to sell rather than having |
| the business. | | | | to deal with selling should something unexpected |
| Deciding who to sell to as part of your formula | | | | arise, however, in reality it is just as important to |
| for selling a business - | | | | ensure you include the unforeseen. |
| Many small business owners are very concerned | | | | Formula for selling a business - Planning |
| with who they sell to and who is going to look | | | | Having a good plan outlined and ready for selling |
| after their 'baby' (business) if and when they go. | | | | your business is vital. Strategy comes into play |
| Some common questions include: | | | | here also and I recommend speaking with a few |
| Should I sell directly to my staff? | | | | other business owners who have decided to sell |
| To the competition up the road? | | | | or have been forced to sell in the past. Most |
| Perhaps to a much larger business? | | | | business people are happy to share their |
| Should my children have first option? | | | | experiences and recommendations. Obviously, this |
| Should I stay on and play a role in the | | | | is just one source for information in the planning |
| business' future after it sells or pursue other | | | | process. |
| interests? | | | | Educating yourself and understand the process is |
| As a business owner you have a range of options | | | | highly recommended and with this comes a few |
| that you need to carefully consider to make sure | | | | serious questions to consider such as: |
| you really maximize on your business sale and lets | | | | What can I do to ensure my business is |
| face it many of you will fund your retirement | | | | operating at its best with little time? |
| with the proceeds of the business sale, so its | | | | What are the best strategies to market my |
| critical for business owners to have a well thought | | | | business? |
| out formula for selling a business regardless of | | | | When should I get my lawyer and accountant |
| selling your business now or in the future it just | | | | involved? |
| makes good business sense and gives you peace | | | | How do I sell my business myself - without a |
| of mind. | | | | business broker? Do I need a broker? |
| Customizing your own formula for selling a | | | | How do I establish the correct value of my |
| business - What do you really want and how will | | | | business? |
| you get there? | | | | |