10 Crucial Questions To Answer Before Selling Your Business

What should you be asking yourself, well before you exit?

Company owners with the best answers to these 10 questions, tend to be closer to a successful exit than everyone else…

🟪 WHY ARE YOU SELLING? Sounds obvious, but understand your own motivation. This will ultimately guide you towards favourable exit terms which work best for you.

🟪 WHAT’S YOUR BUSINESS WORTH? Do your own homework as to a realistic valuation. Use data, not your bias.

🟪 HOW CAN YOU INCREASE THE VALUE? Understand what really drives the value of your business and plan well ahead.

🟪 WHEN SHOULD YOU SELL? This is not about timing the market, but fully grasping how long it actually takes to optimise your valuation.

🟪 WHO ARE THE RIGHT BUYERS? Achieving the maximum exit value, largely depends upon lining up the right buyers. You need to know who they are well in advance.

🟪 WHO WILL ADVISE YOU ON THIS JOURNEY? Work with partners who can optimise and accelerate each milestone towards your successful exit. Avoid leaving money on the table.

🟪 HAVE YOU ALREADY BEEN REPLACED? The business should not just function with you. It should be able to thrive without you.

🟪 HOW IS THE BUSINESS PERFORMING? It seems to be the exception rather than the norm, that KPIs measuring the really important things are defined and regularly tracked.

🟪 IS YOUR HOUSE IN ORDER? Don’t wait to be asked before getting all your documentation in place and be ready for due diligence.

🟪 WHAT’S YOUR PLAN AFTER YOU EXIT? Not just the transition period, but longer term. Still involved in the business on some level? New venture? Clarity will help with momentum.

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