Tip #114: When You Decide to Sell Your Business, Your Work Has Just Begun

Tip 114: When trying to sell a business, it must be growing and not declining

No matter how eager you may be to head to the closing room, selling a business takes time. It’s paramount that during the process, you keep your revenue and profits high. When potential buyers do their due diligence, they will want to see recent history of the company, as well as history dating back several years.

The time right before you sell can be very sensitive. If your business looks like it’s on the decline, this could scare buyers. They may end up walking away from your business or making a lower offer. For more advice, check out our past post about getting your business financials in order.

Even though it’s crucial that you keep things running while you’re preparing your business for sale, there are ways you can groom your company to function without you. For advice on how, check out this blog post.