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ARE YOU READY TO SELL YOUR BUSINESS?
Plum Pointe Wealth Management President Brian Dunckley shares his experience helping businesses prepare and assess their readiness to sell.
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7 STEPS TO SELLING A BUSINESS
Selling a business is one of the most complex decisions you will make as a business owner. If you have ever considered selling your business, now or in the future, our 7 Steps to Selling a Business will help you navigate the variables, maximize the outcome, and ask the right questions and prepare your business for a successful transition.
1
Identify Your Goals and Objectives
Be clear on what you are hoping to gain from the sale. Where would you like to land financially? Ideally, how will the sale impact your employees, your family, any charitable or local organizations you support? Once you identify the most important goals, you can work backwards to determine what processes you need to put in place to ensure that each of those goals can be met
2
Obtain an Objective Valuation
Once you identify the ideal financial conditions for a sale, you need an objective assessment of the value of your business based on the current market. This can help you determine if now is the right time to sell, or if you need to take some steps to increase the value of your business before you start the sales process.
3
Involve Key Employees
If any of your current employees are integral to the continued success of the business after your departure,
confirm their willingness and requirements to remain with the company following the sale to ensure a
smooth transition.
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