Selling Your Business

By: A Staff Writer

Updated on: Oct 25, 2024

Ready to Cash Out? 💰

Selling your biz can be lucrative, but emotionally fraught. Here’s what to consider BEFORE putting up the ‘For Sale’ sign.

• Valuation Matters: Get a professional assessment, so you’re not leaving money on the table (or being unrealistic).
• Why Now?: Clarity on your own goals is key to negotiating effectively and walking away happily.
• Clean Up Your Act: Buyers do due diligence, messy books or unresolved lawsuits will sink the deal.
• Team Impact: Be upfront with employees, uncertainty hurts morale and can diminish the company’s value.
• Emotional Rollercoaster: Even a desired exit is stressful, have a support system to avoid rash decisions in the process.
• Taxes Take a Bite: Consult with an expert early to minimize the hit and maximize what you actually keep.

Selling a business you’ve built is complex. Do your homework for the best financial AND emotional outcome.