When an Owner starts thinking about #selling a Business he needs to walk through the three most common reasons most Entrepreneurs avoids doing to make their business sellable, and why you should do it anyways.
IThese reasons are:
- You think you’ll never #sell your business. Seeing as we’re not immortal and things can change despite our plans, it’s important to have a sale-ready business to avoid an unplanned involuntary exit.
- Putting things off is human nature, especially things that don’t have an immediate effect on our circumstances. Still, beginning the process now can help improve the value of the business as well as help to avoid a stressful urgent situation down the road when it is time to sell.
- Being unsure of where to start. Instead of avoiding building your business to be sale-ready because you’re not sure how, start with one simple step: getting a business valuation. Having this done can not only tell you where your business currently lies value-wise, it can also highlight what you can do next to increase the value and sellability.
It may seem like a step that is not high on your urgency list, but starting now can make the process smoother and set you up for better leverage and decision making down the road.
To learn more about selling a business, contact Sofiene Mankai at (438) 765-5838 or fill out our contact form here.