05 May Around the Web: A Week in Summary
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A recent article from CEOWORLD Magazine entitled “The Million-Dollar Question: When Should I Sell My Business?” discusses the importance of timing when it comes to selling a business. Getting the timing right or wrong can have a significant impact on the sale price.
Two indicators of a good time to sell include your business having significant transferable value and the market being favorable to sellers.
Factors that can influence the timing include human capital, cash flow, opportunity cost, buyer funding options, and investor confidence.
A recent article from Kiplinger entitled “Preparing Your Family-Owned Business for Sale?” explores the value in priming your business for an eventual sale. Whether you don’t intend to sell for a long time or you are considering a move in the near future, it is always best to be prepared for an interested buyer.
To get your business in shape for sale, consider the following:
- Gain an accurate understanding of the present value of your business with a valuation
- Run the business as if it is for sale by building a great team, reinvesting in the business, identifying what makes the business unique, and developing systems
- Put an emphasis on innovation by utilizing technology, software, and sustainable solutions
A recent article from BW Disrupt entitled “Five Tips To Know The Right Time To Sell Your Startup” discusses timing of and preparation for the sale of a business. In order for a successful sale, it is important to get the timing right and to make sure the business is ready beforehand.
When it comes to timing, ask yourself if the business is healthy, strong and growing. Analyze the market conditions and deal activity. Make an honest assessment of the business in relation to your personal goals and if it’s time to let go.
To properly prepare for a sale, get your financials in order, have a valuation performed, and hire a business broker.