When Is The Best Time To Sell My Business?
May 11, 2023
When Is The Best Time To Sell My Business?
8 Reasons Why You Should Sell Your Business
After It's Most Profitable Year?
“When is the best time to sell my business?”
Frequently, this question is asked by business owners. Well, there is no right or wrong answer. It all depends.
But, after the most profitable year, if you are planning retirement, or you can not imagine better years, it’s the best time to sell. No more waiting, no more doubting, no better time.
Sounds crazy? Not reasonable? Not really, you are a smart business owner if you do.
Why?
Let’s think in buyer’s shoes. You will understand it easily. What are buyers looking for?
Obviously, you know it’s your best year. They will ask for your financial statements and they can find out too.
Future growth is very subjective and based on so many different situations, factors, abilities, environments, policies, politics, etc. Even if you can not imagine better years in the future, the buyers may imagine huge growth according to their special situation.
Why not? Anything is possible. At least they are standing on a giant’s shoulders. Yes, you are the giant in many ways, at least compared to your past years.
You must have a lot of loyal customers to achieve this result, the best year ever. Without loyal customers, you can not reach here. Customers are always very important for a business. That’s what most of the buyers are looking for, actually.
You have done this best year already and you proved you have the ability to have this size of income for this year. If the buyer is smarter or/and works harder, the recurring income should be expected and bigger.
This is a must to achieve your current best result. At least it is not very bad. There must still be something that is not perfect yet. No one is perfect. It’s the same thing for business. Without good management, you can not drive your team to achieve a good result.
It’s your best year, right? It means you have a very good trend from the past few years to reach here. this year, the best one. Buyers really want to see this kind of trend going up and up.
It’s not about how much they can bargain. It’s about negotiating, feeling, and strategy. It’s very subjective. It’s also not about what time you are selling it. It’s about how much they think they saved, or bargained for.
Well, treat your employees better and make them stable, even if you are not selling your business. They are your boss in many ways, they even call you boss.
The above are the 8 reasons why you should sell your business after the most profitable year. Of course, it’s not for everyone, but only for people who are looking for retirement or for people who have no confidence about the future.
If you have different opinions or questions about this article, you can contact me by my email, phone number, Linkedin, facebook, etc.
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