Selling a Business – Where to start?

Most business sellers don’t know where to start when they want to explore the idea of selling their business. In most cases this is a one time event that business owners are not prepared for. A variety of books have been written about the subject and can provide valuable information about the business sale process. Business owners are however very busy running their businesses. Purchasing and reading a specialized book is rarely the natural option.

As a first approach, we suggest that a business owner contemplates these questions:

  • Why would you sell your business?
  • Are there other options available?
  • What is your plan after selling your business?
  • What price do you expect to sell your business for?

This introspective thinking will help the owner decide whether selling the business is the way to go. Owners can also  seek professional help from business brokers. I receive frequent questions from potential business sellers who are in the early stages of their decision. In many cases my advice to them is to explore their other options since selling their business appears not to be the optimal solution. Surfing the Internet searching for blogs and websites providing information about the business sale process can also be very helpful in understanding the preliminary concepts.

Comments 1

  1. GINA KILIAN wrote:

    WOULD LIKE TO KNOW WHAT PAPER WORK MUST BE IN PLACE TO SELL A SMALL TO MEDIU BUSINESS

    Posted 20 Jan 2009 at 7:26 am

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