Selling a business can be a stressful experience, especially if you have not done it before. The process can be time consuming and the negotiations tiresome, therefore it is useful to have pearls of wisdom from the experts.
The latest infographic from https://www.bcms.com/gb/en-gb shares their tips and advice on the whole process. Initially looking at the the key reasons business owners sell up and the important things to consider before making that life changing decision.
It is not just the process itself the asset discusses but also how to ensure the business is sold to the right person/organisation. This is of key importance, many founders/owners have built their business from the ground up and therefore may wish to sell to an already established brand who can take it from strength to strength.
On occasion the post-sale plan of action is just as vital and therefore is discussed within the infographic. For example owners may plan to sell for geographic reasons, maybe to enter a new market or expand the businesses reach, therefore they have every intention to continue working with the company as a partner or shareholder, making finding the right person even more important.