Just like any important decision, the question of selling your company should not be made hastily.
Ideally, you want to sell only when your company is performing well, economic markets are healthy, and buyers are paying good prices. The current difficult climate will understandably drive many business owners to wait until markets recover and the public health crisis is under better control. But, if you intend to sell your company at exit, then the time to start preparations is now. With a record number of U.S. Baby Boomers still owning companies, we expect to see a massive surge of owners wanting to sell as soon as possible once conditions improve. In other words, there will soon be a large crowd rushing for the exit door, and no business owner can afford to be off-guard when that door reopens.
Every business owner and every company is unique, yet there are some universal signs that business owners can use to help determine if they are ready to begin the sale process. (Remember, it typically takes nine to twelve months to sell a company once the process has started.) Overlooking any one of these signs can lead to a significant amount of lost sale value or derail the sale altogether. Because most business owners exit only once, it is important to learn what is involved in getting ready to sell before you start the process—otherwise you risk discovering half-way through that you missed something critical.
This white paper explores each of the ten signs and offers resources to help owners address each issue. At the conclusion, the white paper identifies further steps to help you prepare for the sale of your company.