Tips on Preparing Your Business Exit
Selling your business is not the same as running your business day-to-day. Your perspective has to shift to a new kind of customer. The potential buyer of your business may be comparing an investment in your business with a totally different business with different skills, market and returns.
In order for your business to stand out and get the attention it deserves, you can spend some time and money making sure it is an attractive investment. It’s not just about the numbers, but the numbers count.
There are times in a businessman’s life where you will be in a situation wherein you be asked if you would be interested in selling your business. Although the offer to you is interesting, you might feel nervous and confused with your decisions. Nonetheless you may feel you should at least explore the possibility. You may also feel anxious not to be led into selling too cheaply or being ‘turned over’.
There are several other motives for selling your business: it could want a lifestyle change; the business is outgrowing you; the business needs further investment to grow or you simply want to bank the value created. Whatever your reason, you should start by conducting a thorough review of your business as if you were the potential buyer. To get the best price you need to get into shape.
For more tips on preparing your business to exit, read this article: http://www.smallbusinesshq.com.au/factsheet/20559-tips-on-preparing-your-business-exit.htm
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