Business Brokers
and M&A Advisors

Readiness Assessment

We need a bit more information before determining your readiness . . .

Some of your answers indicate you might be ready to sell…and some would indicate you’re not quite ready. We need some more information from you in order to help make that decision.

We have your contact information and will be in touch with you soon to ask some follow-up questions.

In the meantime, consider this . . .

It’s impossible to understate the importance of beginning the process of preparing to sell as soon as possible. Selling a business is nothing like selling a house or selling a car – this is a highly emotional process with seemingly infinite ties into your finances, your relationships, heck – sometimes even your personal sense of purpose. Let’s about some things you can do to prepare for the sale.

For those that are just beginning the process, here are my three best tips.

  1. First, look at yourself. Put your ego aside and ask yourself why you really want to sell. As I like to tell my clients, sellers can’t be “half-pregnant.” A half-pregnant attitude will always lead to a half-finished sale. If you’re serious about selling your business, you need to make sure you’re fully invested in the process. Think about what your future will look like after you sell the business. Are you going to retire? Get a job? Invest in a new venture? Make sure you have a good idea of what you want your life to look like post-sale.
  2. Once you’re sure selling is the right answer, then you need to look at the business itself. How is your industry trending as a whole? How has your business been the past few years? The sales trends of your business will be a good indicator of what a buyer will be willing to pay for your business because remember – a buyer is purchasing a cash flow stream. If things are trending downward, that’s a good indicator a buyer will want a better deal.
  3. Finally, it’s imperative to get a proper business valuation so you know what your business is really worth. It never ceases to amaze me how most people will know what their homes are worth and probably their cars too, but even though the largest financial asset they may own is their business, they have no clue what it’s worth. So be sure to go through this exercise either on your own or with a professional. You shouldn’t start this process without knowing.

If you’d like to discuss your specific situation,
we’d love to hear from you.
Feel free to reach out and we can chat.

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