Are You Considering Selling Your Business?
Take this assessment to check your readiness.
As an owner, you may have spent years building your business. Sweat equity and sleepless nights supplement the financial investments you’ve made over the years. The very idea of selling your business may be thrilling, but a bit overwhelming. The due diligence process alone can be a headache. It’s a significant life event carrying professional, personal, and financial implications that could span generations. There are many factors to consider when prepping your business for sale beyond revenue and profitability, and not all of them will be obvious if you haven’t been through it before.
At CFO Alliance, we love entrepreneurs, and so we have developed a comprehensive assessment that will help you determine how ready you are to sell your business while maximizing its value. Even if you aren’t looking to sell your business, a merger, or acquisition within the next six months, this can serve as an excellent guide to make sure you are putting the right strategy, processes, and people in place today so that when it is time to sell, you are ready.
It is important to remember that you don’t have to figure this out on your own. Many entrepreneurs will avoid hiring experienced advisors to save money on consulting fees but end up leaving much more money on the table in the form of lower net proceeds and unfavorable deal terms. Besides, selling a business is a full-time accounting job and can be a considerable distraction from day-to-day operations. If the business falters during the sale process, the buyers might come back and ask for a lower valuation. Not all negotiations end in a closed deal, so you want to be confident that even if the deal doesn’t close, the business will still be healthy and on track. Leveraging experienced advisors can help you maximize your net proceeds and allow you to continue to give your business the attention it needs.
Selling your business is a vast undertaking that deserves sufficient planning and preparation. You didn’t cut corners launching, developing, and growing your business, and you shouldn’t cut corners when it comes to selling it either. Be sure that you are ready and be sure that you have all the resources necessary to execute a successful sale process. Take our Readiness Assessment to start on your path for your future.
With our comprehensive M&A Readiness Checklist, you will discover how prepared you are to sell your business and learn the best tips on how to maximize its value.