If you are thinking it might be the right time to go and put your company up for sale, do you have faith a sale will go through?
There is little doubt that selling a company is a big step no matter how you look at it.
That said it could be one of the better choices you end up making.
So, is selling soon for you?
Get the Right Price for Your Hard Work
In deciding you do want to push ahead with trying to sell, here are three tips to keep in the back of your mind:
1. What kind of price you will get – Of course what amount of money you get will be your top thought more times than not. So, know the true value of the company and what a fair asking price is going to be. When you know how to value your startup or a business you bought, you have a better chance of coming out ahead. Don’t get taken for a ride and end up getting much less for your company than it in fact is worth.
2. Deciding if the timing for a sale is right – As key as getting the right price will be, is the timing to sell right? You want to look at myriad of factors as you try and decide this. For one, how is the industry your company is in doing these days? You also want to look at the economy in general. If one or both are not doing well, you may decide to put the brakes on a potential sale. Given how important timing is in life for so many things, knowing now is the time to try and sell is key. Do all the research needed so you can get a better sense of when to sell. You may come to the conclusion that holding off on a sale is the smarter thing to do. Then again, do not be that owner who waits too long to sell. You do not want to look back with regret that you waited too long to list the company for sale.
3. Making the next big move in your career– Should a sale go through, any thoughts to what you will do next with your career? Do you have any desires to go out and buy a business of your own or start one from scratch? A more appealing idea may be that you look to go to the corporate world and work for someone. Not having to be an owner and make all the big decisions may in fact appeal to you. Having the pressure taken off your shoulders can seem like the best thing for you moving ahead. Finally, any chance you are at a point and time in life where retirement would be an option? If it is, you may decide now to opt for such a thing.
If you want to sell the company you have called your own, how do you think things will pan out?
