Deciding whether to sell your small business is a complex process that impacts not just your professional life, but in all likelihood, your personal life as well. After all, you’ve devoted time, effort, and resources to build, grow, and promote your business.
While we can’t offer one single list of criteria to help everyone decide when they should sell or when they should hold, we can walk you through all of the critical things to consider when deciding whether to sell your business.
In this post, we’ll look at the entire process of selling a small business, paying particular attention to what factors make for a good opportunity and what might mean that a sale is a bad move. Here’s what we’ll cover:
- How to position yourself for the perfect sale
- Common reasons for both holding and selling a small business
- Questions to ask when deciding whether to sell or hold
- Pros and cons of selling a business in various scenarios
- What to do when you’re ready to sell your business
In the end, you’ll be equipped to assess your small business against potential sales opportunities, empowering you to make the best possible decision.
Considerations for selling your small business
Before you go about trying to decide whether to hold or sell your small business, you have to make sure both options are actually options for you. In other words, if you decide to sell, is your business in a position to be sold?
Selling a business is far from a quick and easy…