Usually, owners become motivated when they are just plain burned out or have had a life event – a health scare or the death of a close friend or spouse. Something is prompting them to make a change as soon as possible. Is life passing one by? What do you want to do while still healthy, have the desire and ability to do? Frequently, a sense of urgency is created by one or more of these events. However, is this motivation or merely a reaction?
The best motivation is when owners have planned and prepared their business to sell prior to burn-out, disease, death, dispute, etc.
Educated sellers are the best sellers. By learning and understanding the elements of a successful transition plan, seller’s fear and hesitation are removed when an offer arrives from a good buyer.
Here are just a few of the issues that should be discussed and understood prior to the first offer arriving!
- How much money will you walk away with after all taxes and fees are paid?
- Will the sale net enough money to fund the rest of your life in the current or a better lifestyle? What if the net doesn’t fund your lifestyle?
- How will you be able to replace all the perks (eg., family cell phone plan or yearly vacation) your business has been paying for?
- How will you spend all that free time once the business is sold?
- How will the sale affect your social life, community standing, and how others perceive you?
- Will you still feel fulfilled and challenged?
- What will happen to your employees and customers?
A Business Broker is a true advocate for sellers. We will help you achieve your goals and maximum value when transitioning out of your business and into the next stage of your life.