Selling Your Business in the New Year
It’s the New Year! That means changes and new beginnings.
Now your back to work in January, you may decide that it’s time to get back to a different type or work or a different type of business. Perhaps you already know you’re ready to go. But if not, here are a few signs that you may want to move on:
• No fun. Owning a business should be exciting. Yes, it can be stressful, but it should a “good stress” that drives you to do more. If it’s not, you may be tired and burnt out—a really critical issue for business owners, and a good reason to sell.
• Don’t want to grow. It may be that you don’t want to make the investment in time, money, and energy to grow the business to the next level. You may like where the business is right now, but you know that businesses have to keep growing or they get stagnant and may become less profitable. It’s a good time to value the business and look at your options for selling.
• Management skills not suited for bigger organization. Whether by lack of experience and training or just a natural aversion to keep your hands in the day-to-day operations, some business owners build their businesses to a point where they realize they would need more management skills or additional layers of supervisors to grow.
If you’re thinking of making a change, you’re not alone: six out of ten U.S. business owners plan to sell their companies in the next several years, which is a huge uptick compared to previous years.
Start exploring a change by gathering information on the process. In order to see the best return on all of your hard work, you should work with an experienced professional who can guide you throughout each and every step. If you’re thinking about selling your business and moving to your next challenge, contact me to know the value of your business and to discuss your next move?
For additional information, please visit my website Business valuation.
For more immediate help, please send me an email to Andrew Rogerson or give me a call at (916) 570-2674.