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5 Questions to Answer Before Preparing to Sell Your Business - John Livingston (K2817)

November 28, 2017

These tips were submitted by John Livingston of www.PlethoraBusinesses.com - a past guest. You can find additional 1 minute tips and Show Highlights in the index.

"Selling your business can be a very difficult and emotional experience.   The process can be made much easier by doing one thing----PREPARE.  Identify your goals. What are the really important things you hope to accomplish?  Getting maximum value is always a consideration, but what about employee retention or treatment of minority shareholders?  How long are you willing to assist in the transition to new management?  Are you willing to provide financing for part of the purchase price?"

"Once your goals are clearly defined, prepare the company for sale.  Try to anticipate due diligence issues and deal with them prior to sale. Common areas that can create issues are inventory, accounts receivable and key employees"

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