Dec 10
6
Thinking of being a serial entrepreneur? Then chances are you know that the right time for you to sell your company is among the most difficult tasks facing you. Unlike others, you like the hustle and bustle of making a business out of nothing so much that you want to spend your life doing it. You desire nothing more than to start up one business after another, seeing them to success – only to do all of it once again!
You like the adrenaline rush that comes with the frantic pace of start-up operations. Everyday management is not for you. So you want to sell your company now that it’s been earning profits consistently. However is now the best time? True, you could wait forever for that ideal time, because in business you generally take what you can get. But that does not mean you have to scratch every itch right away, so to speak.
Naturally, in case you honestly are not much good coping with the tedium of day-to-day tasks such as confronts the manager of the established business, then it behooves you to sell as quickly as possible so as not to stay past your welcome, as it were, and really ruin things! And ultimately, only you will know just when is the best time to sell your company, for only you have access to the books, all of the necessary data with which an intelligent choice can be made.
However a professional consultant may help, all the same. These are people whose business it is to sell successful businesses on. It’s most certainly possible to do everything yourself, of course, and forego the broker’s fees involved. And this is advisable if the company isn’t successful, when there will most likely not even be enough money made from the sale to repay all the liabilities, never mind still turn a profit for you. But there is nothing like professional advice from folks who’ve seen it all.
