Today would be the best time to prepare to sell your business, even if you don’t expect to sell the business anytime soon. Knowing now what will be important to a buyer and the bank that will loan the money for the acquisition will allow you to plan and embellish those factors. The ideal method is to learn what is important from the experience of others, without the expectation of reciprocity and without an agenda. My mission is to share information that may be helpful, with no strings attached.
One resource for learning more is from blogs with stories and examples addressing the important issues, which can be read anonymously. Consider reviewing www.dolansales.com/blog as one source for you a wealth of real-world knowledge.
No matter how far out you are from selling, a confidential conversation to establish an idea of what your business is worth now can help you. Many times, a seller establishes an unrealistic value for a business without real-world knowledge of the market. To find this information at the point you want to go to market gives you no time or room to maneuver. By knowing what your business is worth today, compared to what you want to sell for at some point in the future, you’ll be able to implement the appropriate plan to accomplish your goal. Give me a call (888-893-6661); I am happy to share information, with no expectation of a return.
We can talk about many topics, including why it makes sense to minimize non-business–related expenses in the years approaching the sale of your business. We can discuss working on reducing customer concentration (that is, too much business in the hands of too few customers), understanding why the sales trend needs to be at least flat, and perhaps increasing or acquiring other like businesses to add incremental sales and cash flow.
Take a look at my LinkedIn profile and see the recommendations from my customers: http://www.linkedin.com/in/dolansales.
If you would like to have a confidential telephone conversation or a personal meeting, just contact me at bobd@dolansales.com.