As a business owner, you have probably seen countless articles reeling out the top 10 tips on how to prepare your business for sale and wondered where to start.
The good news is you only need to think about a couple of things.
- Don’t leave planning until you want to retire. If you do you risk working a lot longer than you might like, whilst wondering if you can afford to do without the income your business provides.
- Take a look at recent business sales in your sector. Why do you think they were good buys? Does your business look like a good buy in comparison?
These questions will force you to consider two things: your long term financial plan and the part the value of your business plays in it, and what you can do to make your business look more attractive to buyers.
So, get planning for a long and happy retirement! And if you need advice, ask an expert who can see the bigger picture and position the sale of your business within that picture. Don’t leave it to chance.