Maurie Backman points out four important “Sell Signs” for business owners to consider.
Numbers are moving in the wrong direction. Maybe costs have gone up or competitors have crowded in. Don’t ignore declines in revenue or market share. Plan to correct the slide and prepare the business for sale with increased value.
It seems impossible to move the business forward. Continuing to run a business without the passion needed to make important changes may cause the loss of key employees or customers, ultimately reducing business value.
There are more interesting things to do. If you are constantly distracted by other projects and ignoring the hard work of building your business it may be time to consider other opportunities.
Retirement is around the corner. Years fly by. It’s never too early to consider succession planning and preparing your business for sale.
Thinking of selling your business? With over 3o years of experience and more than 800 successful closings Proforma Partners can help you with your exit plans. Contact a Proforma Partners Advisor and discuss the next steps to maximize your sale price and manage your capital gains.
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4 Signs It’s Time to Sell Your Business
Maurie Backman, July 16, 2018