When you’re ready to sell your business, you want the highest possible return on your investment of time, energy and capital. That’s why it’s not enough to simply put your business on the block. Ensuring a successful outcome requires preparation and a well-orchestrated plan.
According to the National Federation of Independent Business (NFIB), sellers should have a “clear understanding of their business’ competitive position in the market, a realistic asking price and knowledge of a potential buyer’s suitability well before they sit down to negotiate.”
Achieving a successful outcome begins with understanding the many moving parts involved in the sales process, such as: Business valuation, potential issues that could limit interest or undermine value, a step-by-step exit plan, and how to structure a deal that meets the needs of both the buyer and seller.