The big question is not really how much you will sell your business for, but how much of it can you keep? Selling your business is one of the most important financial decisions you’ll ever undertake and you need to approach the sale with the same careful business exit planning and dedication that you put to work in building your business.
Some of the common responses we see from business owners on why they do not have an Exit Strategy are the following:
- Not sure how to start the succession planning process?
- Unsure of who to call for help with succession planning?
- Difficulty disclosing personal and financial matters?
- Too busy “running” the business?
- Is the succession planning process too daunting?
- Do not want to think of life without the business?
- Too early to start the process?
- Unsure of what to do with your time after transition?
Exiting the Business
Is it the right time to sell your business? Selling is a major decision! You have devoted your time, money, and energy into building, running, and operating your business. It may well represent your life’s work. If you have already decided that now is the right time to sell your business, you want the very best professional guidance you can get. The Mor-Liquidity team of experts will assist you in determining the right time to sell your business based on market etc.
If you are serious and have solid reason (s) why you want to sell your business, it will most likely happen. You can increase your chances of selling if you can provide an answer to this second question.”What is your next step?” Will you retire? Golf? Travel? “Do you have reasonable goals?” An answer to these two questions means you are serious about selling your business.
It generally takes, on average, between 9 to 12 months to sell a business. Some businesses for sale will take longer, while other businesses for sale will sell in a shorter period of time. The sooner you have all the information needed to start the business exit planning process the sooner you move to the selling stage! The majority of businesses are not saleable unless they priced and structured properly. You should understand that only the marketplace can determine what a business will sell for.
Key FACT:
“75% of businesses do not sell because of lack of exit planning”
“Mor-Liquidity successfully negotiated a license agreement between Technosource, and 20q.net, in January, 2011 and we are very pleased with the services and results achieved in working with Mor-Liquidity Mergers and Acquisitions Inc.” (20q)
