I think the following raises some excellent points about Business Selling. I’ve included a few of the highlights for you to get the gist of the article:
Thoughts of selling your business can be motivated by a range of factors, some of which may be out of your control.
They can include ill health, divorce, a need to liquidate assets or realise a new strategic path, boredom or even becoming overwhelmed.
Regardless of your motivation, the timing of your sale can really influence the price.
Sale price typically reflects past performance and profits, so taking this into account may help you reach a decision on when to put your business on the market.
Following declining profits and performance
This is the most challenging time for a business owner. Perhaps seeing a slump in performance has drained your motivation and energy and you simply don’t have any fuel left in the tank to build the business up again.
Sadly, this is all too common with burnt-out business owners. The trouble is, a decline in profits and performance will also mean a lower sales price.
If your business is at this stage, you need to ask yourself if you can keep it running and increase profits, ensuring a better sale price in the future.
Perhaps a new competitive threat means you will be unlikely to recover. If this is the case, you need to objectively assess the likelihood of restoring the business to its previous heights – and valuation – versus the risk of things deteriorating further still. Do you stick or twist?
What do you think? Maybe you’d like to read on? Check out the full version here then give me a call to discuss how this might impact your own business: (0407) 764-261. Alternatively, email me at email@example.com.