Seller Learning Center
Sell your Business with EbizBrokerage
If you’ve decided it’s time to sell your business, and you’d love to start the next chapter of your life by Q1 of 2021, don’t despair. You absolutely can sell your business by early 2021 or before.
If you’ve already looked into what’s required to get the best price for your company or your business assets, you may be overwhelmed by what seems like a complicated, drawn-out process. But, if you’re a conscientious and successful business owner, you’re probably already in good shape on most of the logistics. That means what you need, more than anything, is a simple plan of action.
Follow these six steps to get your business in shape, attract the right buyer, and get the very best price, all without letting the sales process drag out too long.
Advantages Of Buying An Existing Business Vs Starting A New Business
Step 1: Nail Down Your Exit Strategy
The first step of a successful, quick sale is getting your exit strategy solidified. It’s vital for you, as the current owner, to know the answers to some important questions before you even put the business on the market:
Why do you want to sell?
Are there any legal complications to navigate before the business can be sold?
Can you afford to lose the income and/or live on the proceeds from the sale?
What are you going to do with yourself and your time?
There are more questions that will likely come up that are unique to your business and circumstances. The point of this exercise is to make sure you’ve really thought this decision through, and that you’re not going to inadvertently get in the way of closing the deal when the time comes. It also helps you to prepare yourself emotionally for the sale. Don’t underestimate the emotional toll selling your business can take, especially if it’s been the main aspect of your life for some time.
Discussing matters thoroughly with an attorney and an accountant can make this step easier and ensure you’re not overlooking anything important.
GO TO STEP TWO!