It is time to sell your business. Your first move is hiring a broker. What's next? "Keep calm and carry on!" That is to say, you should stay the course - continue operating business as usual. This may seem counterintuitive, because you're selling your business, and that is a big step, but this is actually great advice.
Currently, your business is doing well, your customers are happy and your broker is working tirelessly to sell your business behind the scenes. You simply to need to forge ahead, supporting daily operations, and ensuring the business stays on a good course. This plan of action is beneficial to you in a few ways:
- Keeping your business on its normal, steady course is encouraging to buyers. They do not want to see sliding numbers because a seller has lost focus. This will also ensure a better return on your investment once the time comes to sell.
- Customers and employees will be kept unaware of future changes in ownership. Knowing about an impending sale can cause key employees to depart and customers may go elsewhere for fear of service changes. These will all have an ill effect on your business's wellbeing.
- Staying focused on operations gives you a chance to ensure the business is in tip top shape - from the finances being well organized to the processes being documented. Having the business poised for transition to the new owner is a great selling point for buyers.
These are just a few of the benefits of staying focused on your business. To discuss how to best support the sale of your business schedule a free consultation with one of our knowledgeable brokers.
Rachael Holstein joined the Transworld Team in 2016 as Marketing Coordinator. Her working experience has been largely focused on Business Development and Marketing in the finance, architecture, property management, and information technology industries. A long time resident of Cleveland, Ohio, she attained her Undergrad from John Carroll University and a Master's Degree in Global Interactions from Cleveland State University. She relocated to Denver in 2013 for a change of scenery and a bit of adventure.