Three Things to Focus On Before Selling a Business

strategy pic
Areas / Topics

Three Things to Focus On Before Selling a Business

Different personalities go into business for themselves for a number of reasons.  Some business owners balk at the idea of working for someone else, while others are forced to go out on their own after job loss or other personal struggles.  While entrepreneurs are usually great at building businesses, they are often not as well versed in preparing a business to be acquired.  There are several things that a business owner can do to better position his or her company for an acquisition.  Financial business valuation services companies suggest that business owners should do the following before selling a business.

 

Hire a Professional

Download our free business valuation guide here to understand more about business valuations and view our business valuation FAQs to answer the most common valuation questions.

One of the most important steps in preparing a business to be sold is to hire a professional financial business valuations services company.  These companies are extremely experienced in all facets of business sales and acquisitions.  Enlisting the services of one of these companies can significantly reduce the amount of time that it takes for an individual to buy or sell a business.  Without the proper team in place, a business transaction can drag on for months.  This can be avoided with a professional company which realizes the goal at hand.

 

Pay Off Debt

Do you want to know if your business is ready for your exit or what you should do to prepare? Learn this and more with our business exit assessment here.

Just as is the case for personal debt, business debt is frowned upon when it comes to selling a business.  Potential buyers have to keep the liabilities of the company in question when deciding how much to offer.  If you can pay down your business debt as much as possible, this can obviously make your business much more attractive to potential buyers.  Financial business valuation services companies will advise you to pay down as much debt as possible before putting your business on the market.  This will help to make your balance sheet look much more attractive to buyers.

 

Determine What Your Business Is Worth

Get the most value for your business by understanding the process and preparing for the sale with information here on our Selling a Business page.

Determining the value of your business can be very difficult.  Often business owners have so much invested emotionally and monetarily that they are sometimes jaded when it comes to the value of their business.  This is why it makes sense to hire a financial business valuation services company to appraise the actual value of a company.  This process can be quite time consuming and must take into account the economic factors at hand to come up with a fair value for a business.  There are various methods used to value businesses and these methods can often be quite complicated.  This is why a professional is often needed to effectively value a business so that it is priced fair and will hopefully generate a buyer sooner rather than later.

 

Selling a business is a huge decision which must not be taken lightly.  If you are deciding to sell based on financial pressures, retirement or any of a number of other reasons, do yourself a favor and discuss your concerns with a financial business valuation services company.  These professionals can save you hours of time by accurately accessing the value of your company and putting you in touch with interested parties that are looking to acquire various businesses.

Dale S. Richards specializes in management, marketing, operation optimization & business valuation consulting and is a 20+ year turnaround expert.  He has implemented success concepts into results in 150+ companies.  Dale is a Certified Valuation Analyst (CVA) with NACVA and is a Vistage International CEO Board Chair in Utah  AND a Vistage International Speaker on Business Valuation and Optimization for Higher Value.

Company website:  www.successbiznow.com

Valuation link http://successbiznow.com/valuation-financial-services/  

 

All The Faces of Business episodes are

 

Check out this episode on LinkedIn
Linkedin-Live
The Faces of Business on Twitter:
Listen to this episode of The Faces of Business on these podcast channels

ABOUT EXIT YOUR WAY®

Exit Your Way® provides a structured process and skilled resources to grow business value and allow business owners to leave with 2X+ more money when they are ready.

You can find more information about the Exit Your Way® process and our team on our website.

You can contact us by phone:  822-BIZ-EXIT (249-3948)   Or by Email:  info@exityourway.us

Find us on LinkedIn:  Damon PistulkaAndrew Cross

Find our Companies on LinkedIn: Exit Your Way®,  Cross Northwest Mergers & Acquisitions, Bowman digital Media 

Follow Us on Twitter: @dpistulka  @exityourway

Visit our You Tube Channel: Exit Your Way®

Service Professionals Network:  Damon PistulkaAndrew Cross

Facebook:  Exit Your Way® Cross Northwest Mergers & Acquisitions

Other websites to check out:  Cross Northwest Mergers & AcquisitionsDamon PistulkaIra BowmanService Professionals Network (SPN)Fangled TechnologiesB2B TailDenver Consulting FirmWarren ResearchStellar Insight, Now CFO, Excel Management Systems  & Project Help You Grow

Schedule a call to discuss your business goals and answer your questions on growing business value, preparing for sale or selling your business.

Related content

These posts may also interest you

Partnering with IMEC for Manufacturing Success

If you want to get your long-term strategy tuned up, listen to this MFG eCommerce Success show to hear Dorie Clark share how long-game-strategic thinking can help you achieve monumental goals.

Getting Past Ecommerce Objections

In this, The Faces of Business, The Real Jason Duncan, Founder, TRJD Enterprises, talks about exiting your business without exiting. TRJD Enterprises upskills business owners to exit without selling their companies.

Communicating More Effectively

In this, The Faces of Business, The Real Jason Duncan, Founder, TRJD Enterprises, talks about exiting your business without exiting. TRJD Enterprises upskills business owners to exit without selling their companies.