Checking the Status




Are you ready to sell? Is your business prepared? Does it look attractive to potential buyers? It's all about timing, saleability, communication, and how to maximize the worth of your company.


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When is a good time to sell your business? This depends on a number of factors, some within, and some outside your control. You control your own feelings, perhaps after sounding out the views and feelings of significant others.

The minimum business sale price needed will depend on other income sources and realizable assets, set against future commitments. Such as ongoing personal financial commitments, the cost of your desired future lifestyle, and any further planned asset acquisitions after the sale, to mention just a few. Again you’ve a significant influence over these aspects of the sale decision, and you could make adjustments if you wished.

Outside your control are prevailing market conditions, which impact on supply and demand for existing businesses similar to yours, and affect the price valuation at this time. You may decide to make changes to the business, to increase its value, but this could take time and require you to postpone your decision to sell.


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Expected outcome:

Decision to sell made.

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There’s more to this than meets the eye.

Effectively handling the release and timing of information to those affected by your decision is vital. You need to understand and manage the psychological aspects of what’s a potentially sensitive situation.

Close family members and business partners or shareholders are likely to hear your decision first, probably communicated in person. Thereafter you need to think carefully, because it’s vital to a buyer that the business remains as a going concern after the sale. The last thing you want is a mass exodus of staff if they sense their livelihoods are at stake. In terms of key employees you need to decide who to take into your confidence early on, again communicated face-to-face.

Customers, other staff, suppliers, distributors and other parties affected will probably hear later. It’s strongly recommended that you’ve a plan on how, when, and where this communication will take place for each group.


Actions to take:


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Expected outcome:

Decision to sell, professionally communicated.

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