Tips for Your Business Exit Strategy

Every day, small business owners make drastic mistakes when selling their business and lose thousands of dollars in the process. All their hard work and long-term investment is lost. At Corporate Business Solutions, we work diligently to create the most beneficial Exit Strategy that best suits you, your business and your future. 

If you are beginning to ponder exit options for you and your business, contact the professionals at Corporate Business Solutions. Although selling a business can be a very challenging process, our experts help make the process as easy as possible for you.

Here are three tips from Corporate Business Solutions Inc to help you avoid pitfalls, disappointment and lost money in the sale of a business:

1.       Timing - Waiting too long to sell can cause many business owners to miss the best window of opportunity. Since it takes an average of two to four years to sell a small business, long-term planning is crucial to any successful sale. By keeping updated records, a detailed business history and sales portfolio on hand at all times, it will make your planning pay off.

2.       Sale Price - Setting a very high or unrealistic price tag on a business can lead to a dead end street. Expecting to get top dollar for a business that generates little or no profit is simply using bad business sense. Another mistake is to price the business too low. Often business owners will price their business low because they are burned out, suffer from an illness or followed bad advice.

3.       Choosing the right buyer - Taking the first sale offer may not be the best choice. Business sales often go bad after the new owner takes over. The new owner may lack business experience, have a closed mind, be a poor leader, etc.  

   

      Evalute your options and make the best selection for the long term. Ask yourself, is this the best person to buy and run my business? Or, can they quickly connect with my customer base and learn how to market effectively? When the business sale goes as planned, it creates a tremendous opportunity for both business owners and the success continues.

To learn more and / or to schedule your complimentary appointment with the business experts at Corporate Business Solutions Inc, call us at 877-357-9366.