What you need to Know to Sell Your Business
By Dennis Zink
June 4, 2019
OKAY, YOU MADE THE decision to sell your business and no one has put a gun to your head. You want to maximize your equity upon sale. What should you do? And just as important, what shouldn’t you do?
The following advice on How to Sell a Business is from Norman Silverstein. Mr. Silverstein was has been a business broker and his primary expertise has been assisting buyers and sellers of small to mid-sized businesses. He owned his own business brokerage company for over 10 years, eventually merging it with another company. Having completed hundreds of business sales transactions, Silverstein is experienced in mergers and acquisitions, business valuations, performing due diligence, determining the real cash flow of a business, and everything that it takes to bring buyers and sellers to the closing table. Norm has been a SCORE certified mentor since 2012.
From my recent column on, “Six strategies you can use to EXIT your business” we will use strategy #2: Sell to a 3rd party to maximize your equity. Here is some advice from Silverstein on how to do just that.
You may decide to sell at a later date. If so, the following will help increase the value of your business.
Develop and/or improve the company’s website, keeping your technology up to date. If you need help with this, I may be reached at dennis@Time4Exit.com