Selling your business is a lot like selling your house: it should have “curb appeal” and pass a buyer’s “home inspection” with flying colours.
In this article, we will look at some of the steps that you, as an owner-manager or officer/director of a mid-sized company, can take to get your business ready to sell. Questions we will cover include:
- Objectives and Planning: what do you want to do and when?
- Sale Process: are you prepared to take all of the steps between now and closing?
- Value: what is your business worth?
- Team of Advisors: whose help do you need?
- Buyers: who are the potential buyers of your business?
- Corporate Structuring: does your current structure make sense for the deal?
- Seller Due Diligence: do you have the answers to all of the questions buyers might ask?
At the end of the article, we summarize tips to consider in your day-to-day operations and when selling becomes likely.