Regrettably, the biggest mistake a business owner makes when he or she must make the biggest decision in one’s life — is they wait until the last minute to make that big decision?
Without proper planning, you can only receive a less productive result in selling your business.
You wouldn’t take on building a house from scratch without hiring an architect or getting a general contractor to help you with budgeting, or a decorator to help you with a design. You would reach out to a team of people the help you with achieving the best result.
Something like building a home seems to require more help than selling a business. Which is not the case as you have a list of advisors and information out there that a business owner needs to know before selling which can be around 100-200 different things. Such as, what are your tax consequences upon sell? What happens to you your management team? Will you have health insurance?
Make sure to plan well in advance so you experience a successful result at the time of sale.
The Vant Group is here to help guide you through the steps of buying or selling a business. Here’s a great article we would love to share.