Thinking about selling your business? From evaluating your company to preparing your financials and meeting with prospective buyers, its a long and complicated process, so its important to be prepared. Donts: 1. Dont do it yourself. Selling a business is not an easy task – rather, its a multi-faceted process 2. Dont rush through due diligence. This investigation will allow you to view your business through an objective lens 3. Dont hide your weaknesses. Obviously you want to sell your businesss strengths, but your weaknesses are important, too. 4. Dont skip your story. Its not all about financials Dos: 1. Do know your value. You cant sell anything unless you know what its worth. 2. Do match your sale to your plans. Signing the papers isnt the final step, the real endgame is what youll be doing after the deal is done. 3. Do talk to your family. Even if your family members arent formal stakeholders in the company, its likely theyre involved in your business somehow 4. Do reach out to your peers. If you know other people who have sold their businesses, they could serve as a great resource for you during the transfer process.
Posted on: Tue, 21 Oct 2014 14:44:29 +0000
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