If you’re like most business owners, you’ve invested untold time, energy and resources in your company. Nicholson & Associates helps develop strategies to ensure you get the most out of it when it comes time to sell. Here are some tips we offer sellers:
- Know what you’re going to do after the sale.
- Reduce your role in the business now by delegating to employees.
- Develop accurate financial statements.
- Dispose of obsolete equipment, dead inventory and other nonproductive assets.
- Be prepared to finance at least part of the sale yourself.
- Keep the sale plan confidential – even from trusted employees.
- Obtain professional advice.
- Expect the sale to take a long time–maybe a year or more–no matter what time frame an optimistic broker tells you.
- Keep operating the business on a high level and resist the temptation to mentally move on. A strong business will sell, but a slip in sales can reduce its value and kill a deal.