When is the best time to sell my business?
The best time to sell is when a business is doing well. It is best not to wait until after a business has peaked; the selling price can suffer. However, almost any business can be sold, even if it is not doing well, if the sale is handled professionally and priced correctly.
I am planning to sell my business in the next two years. What steps should I be taking now to assure a smooth (and profitable) transition?
Business buyers always confirm the financial standing of a business during due diligence.
Financial statements and tax returns need to be up-to-date and accurate before a buyer asks to see them. A buyer is not insulting a seller when he asks you to prove your numbers. He is only being a prudent businessperson.
Appearances Do Count
The time to replace that old worn-out piece of equipment is before you decide to sell. Don’t assume that a new owner will want to do it or that the price will be slightly lower because you haven’t replaced it. The time to “spiff up” the business is now, even if you aren’t selling. Fix the sign, replace the carpet, paint the place – make it look good. Even if you’re not selling, it’s just plain good for business, and you never know when the time to sell occurs.
Five Simple Steps to Sell Your Business
True entrepreneurs build cash flow systems, not jobs for themselves. And business owners own life-long dreams, not businesses.
When the time comes to start your next adventure, care should be taken to get the best price for what you have built.
The following tips can help business owners successfully sell their businesses.
1. Start With the End in Mind
Preparation should begin the day you open your doors. Build long‑term value by creating clear procedures and keeping organized records. Track customer activity, financials, licenses, equipment, and inventory.
A future buyer wants a business that feels as turn‑key as possible.
2. Know What Your Business Is Worth
The market ultimately determines value, and business intermediaries are trained to interpret that market. They have access to real sales data and proven pricing formulas.
For the most accurate assessment, work with a Certified Business Intermediary.
3. Keep Running the Business at Full Strength
Many owners slow down once they decide to sell — and it hurts their value.
Stay focused on operations. Maintain inventory, equipment, marketing, and customer service.
Momentum matters. A strong business today leads to a stronger sale tomorrow.
This is also why having a professional intermediary is so valuable: they manage the sale so you can keep running the business.
4. Protect Confidentiality
If employees, customers, or suppliers learn the business is for sale, it can create uncertainty and reduce value.
Working with a qualified intermediary ensures confidentiality and gives you step‑by‑step support throughout the process.
5. Be Flexible During Negotiations
Deals fall apart when either side becomes rigid. Flexibility helps keep qualified buyers engaged.
A VR intermediary can help you structure creative, responsible terms that satisfy both parties and move the deal to the finish line.
Questions about the selling your business? Email Cole at [email protected].
Keep-in-mind that anything that increases sales also increases profits and the all-important cash flow!
Make it easy on the buyer to make a positive decision by making certain your business shows like a winner.