While it’s important to understand that selling your business is a serious undertaking and will require a lot of work, it doesn’t have to be a stressful headache. If you are not well prepared sling can be very stressful. What’s more, you’ll get less money for your business than you would have if you’d prepared ahead of time. On the other hand if done properly you can not only sell your business faster and for more money, but also you will have less stress throughout the process. Here is a 3 step process we have identified that helps you accomplish just that.
This will be the shortest section in this article, but it’s one of the most important as well.
Step 1: Make sure you’re ready emotionally
Before you can hope to sell your business for what it’s worth, you need to be sure you’re actually comfortable with the idea of leaving it behind in the first place. Once you sell your business, it becomes someone else’s focus and a huge part of your life will change.
Are you prepared for that, emotionally? Do you already have definite plans in place to fill that time? Do you have new goals in mind that you’ll be working toward after the sale?