Shane Jeremy James | 3 Key Factors to Determine if it's Time to Sell Your Business


ShaneJeremy James best Motivational speaker provide best tips to motivate you for better business growth.

Building a business from scratch is something which few people are capable of doing. It takes motivation, focus, and above all, dedication. But you've proven yourself and weathered the storm. Your business is stable and profitable. However, if you feel like you're ready for another challenge, want to spend more time with your family, or are simply ready to enjoy your golden years, you may be wondering if it's the right time to sell. Reviewing a few key indicators will help you decide if you should contact a professional business broker about selling your company. 

Company Health
Assessing the health of your company is essential to figuring out if it's time to sell. No one wants to invest in a company that isn't in order. While some companies do manage to succeed without having a clearly defined business strategy or perfectly balanced books, these shortcomings simply won't fly when you're trying to convince someone to buy your company. Take a good look at your accounting and your business strategy. If you can't make sense of it, a buyer won't be able to either. You also need to know how much debt you have and what kind it is. Are your accounts receivable collected in a timely manner or do you have to chase your clients down to get paid? Knowing the answers to these questions is paramount if you want to sell.

Business Value
Many business owners make the mistake of assuming that the value of their company is equal to gross or net sales. In reality, income and profits are just two of the factors a consultant will use to determine what someone else is willing to pay for your business. You also need to consider your industry and how it may or may not change in the near future. Are you in a growing or declining sector? What kind of assets do you have and how many? Do you own your assets outright or do you still have financing payments to make? The quality of your management is equally important. Does business falter when you're not in the office or do you have a reliable second in command capable of picking up where you leave off? Potential buyers will want to know these things, in detail.

Market Conditions
Selling a business is a lot like investing in the financial markets. You need to have the right information at the right time in order to succeed. This is where working with a professional broker can really make a difference. Business brokers with years of experience working with business owners just like you are a huge asset. They are familiar with market trends and have unique insight into the pulse of each industry. You may want to sell as quickly as possible, but you may be able to get significantly more if you wait several months or even a year. Your consultant will be able to help you figure out the best time to sell, if there are steps you can take to improve the value of your business, and guide you through the more complex legal, tax and financial aspects of the process.

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Location: Vancouver, BC, Canada

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