Strategic Wealth Planning professionals have the expertise to guide and assist entrepreneurs to grow then sell a successful business. There are two key questions each entrepreneur should ask: “How do I add value to my business?” and “When is the best time to sell my business?”
How do I add value to my business?
To create a higher sale price for your business, an entrepreneur must consider the three primary elements of value and create a strategy for increasing value drivers in each one: the market place, business value drivers and your team of advisors.
The Market Place – You cannot control the marketplace but you can use it to your advantage through careful timing.
Increasing the value of your business through value drivers is where you as the entrepreneur have the most control over the sale price.
Advisory Team – Two teams are often engaged to sell a company; an exit planning team and a transition team.
When is the best time to sell my business?
One part of this answer is “as soon as you can”. First consider the demographic avalanche that is coming down the pipeline as baby boomers retire.
Personal reasons for selling your business could be a culmination of wanting to takes the chips off the table, reaching financial security or boredom.
After weighing the demand cycle and personal reasons to exit your business, it is time to consider the business environment for a business sale.
Talk to a Professional
Please contact us using the form below, or call Stephen Blum directly for a confidential interview – 214.727.6000.