I recently attended a talk by Bo Burlingham, maybe best known as co-author of The Great Game of Business and author of Small Giants. He was talking about his new book, Finish Big – How Great Entrepreneurs Exit Their Companies on Top. While I have written about how to prepare your business for a sale, Bo addresses how to prepare yourself for the sale of your business – very useful and informative.
7 Tips for Selling your Business
- You know who you are, what they want and why
- Build a business that can be sold when and to whom you want to sell it
- Give yourself enough time to prepare – measured in years, not months
- In choosing successor, give yourself enough time to fail
- You get help and advice from people who’ve been through it themselves
- You do right by the people who’ve shared the journey with you
- You analyze why potential buyers want to acquire your business
- You figure out and become fully engaged with whatever comes next
Selling your business is most likely in the top 5 impactful events in your life – it’s important to do it in a good way, a way that you are going to look back at and be pleased with – it’s never too early to start planning your exit strategy and it’s always a good thing to ask for help….
