Making the best and most of your career is something you always wanted to strive for.
That said what if you own a business and look to move on from it?
When you look to go about selling your business, what will it take to get the job done?
From an attractive business to potential buyers to the next stage of your career, think it all through. Yes, going about getting it right matters.
Will You Get the Price You Want?
There are myriad of factors in play when selling your business. Among your focal points should be:
- Getting the price you desire – No doubt you want to get as much money as you can when selling. That said you will have to make your business attractive to prospects. This would be to increase odds of getting a good deal. Make sure you strive for a price that is fair to you. This means getting a price that rewards you for all you’ve done for your business over time. You put a lot of time and effort into your business over the years. Do not sell yourself short on all that work by getting less than your company is valued at.
- Are there workers in play? – Also look at whether there are workers in play as you look to sell. If there are, be as upfront as you can with them. That is important due to the fact their lives will change with a sale of the company. If you were in their position, the last thing you’d want is your employer not being upfront with you. One possibility is that the employees could b offered jobs with the new employer. Another option may be they go with you if you will be opening up another business. By being transparent with them, there is less of a chance of any bad feelings coming to the surface.
- Do you have work lined up? – In the event a sale goes through and you are moving on from your business, what might be in store for you? While you do not need to automatically from one job to the next, having a sense of what is coming is important. That said you may decide you would like to own another business of your choosing. There may also be a part of you that wants to take a step back from such responsibility. This in turn could lead to you going to work for someone else. Even though you do not get to call the shots, you do take some pressure off your shoulders by not being the one in charge. Last, you may be at a point in life where retirement makes the most sense for you. No matter what might be calling your name next, take time to think it all through. Making a rash decision is not in your best interests.
When selling your company is in the works as the next career move, the hope is it all falls into place.
So, are you confident it will all work out to your liking?
