How to Get the Most Out of Your Business Sale
- You should never wait till the last minute to position your business for sale
- You should have everything teed up
My consulting company BX Advisors, which focuses on business exits and I have a company in podcast.
That snackable insight and solution is, that you should never wait to the last minute to position your business for sale. When everyone is running for the exits bad things happen and so whether it’s a year, two or three, the more time you can provide for the thought process of getting things ready and teed up for that exit, the better off you’re going to be.
I’m writing a book. It’s going to be called pack your parachute and it’s based on the metaphor, that pilots don’t pack their parachute when the engines are on fire. You should never attempt to sell the business when you have a very short time window. You should have everything teed up, metaphorically speaking, have your parachute packed so everything is ready to go because sometimes unexpected things happen the health crisis, you know, other things competitive environment, economy whatever, and if you are ready to sell your business and have everything teed up, things go a whole lot smoother and you will get an enormous amount of money. More than you would if you’re running for the exits trying to pack your parachute on the way.
Listen to the podcast. If I would have had a podcast listening to hundreds of other stories of people that have sold their businesses and the great things they did and the bad things they did. it’s a business exit stories, podcast. You can get it wherever you get your podcasts. I also have a report you can go to business exit stories forward slash report and download a report on how you can double the amount of business. The amount of money you put in your pocket.