Knowing When To Sell

You’ve been toying with the idea for a couple of years. It sneaks into your thoughts in the middle of the night when you’re struggling to get to sleep.

When are you going to sell your business?

Somehow, the idea gets shelved first thing in the morning as you throw yourself back into running the company day to day. Maybe you’re not ready to sell psychologically, yet. Or perhaps the idea of your having to spend all of that time getting the business in good shape to go to market puts you off.

It’s not easy to know the right time to take the leap. It doesn’t necessarily follow that the best time to sell is when everything is running at a hundred per cent and figures have been the very best ever.

EVERYONE LIKES A VICTORY

Although you might think that your company might be at its most attractive when it’s performing at its peak, it’s not advisable to wait until that time comes. By that stage, you might find that prospective buyers are not interested in something that they consider to be virtually beyond its ‘best by’ date.

Usually, buyers want to invest in a new company that allows them a few great headlines of their own. Your forecasting needs to be strong and accurate enough for them to be able to see that they’ll be taking on a company with some growth in it, still.

TOMORROW NEVER COMES

Don’t wait too long before you take action. Once you’ve decided to sell, stick with your decision and resolve to act. Delaying is a very common sellers’ regret. “If only I’d started the sales process six months, a year, two years earlier …”.

As we have seen in just the last few months with the onset and spread of Covid-19, we are always at the whim of uncertainties. You never know really know what’s around the corner. The virus has struck many of us – but this won’t be the last time companies face very tough circumstances. Of course, a pandemic is extreme, but there’s always something that has the potential to throw each of us off course. Life is precious. If you’ve heard yourself say, “I’ll give it another year or two before I sell”, then remember that tomorrow never comes.

Take action, and don’t wait too long to act on a deal.

GETTING YOUR BUSINESS “SALE READY”

It doesn’t happen on its own. This is the stage that takes a lot of effort and it’s the prospect of so much hard work that often influences sellers to procrastinate.

Don’t let that happen. Outsource the bulk of the preparatory work to specialists who know how to find the things in your company that sellers want to know about – the assets as well as the risks – so that you can continue in your role and to sleep at night.

Get on with acting on your decision. Life is here and now – and for living.

Find out how you can start to prepare your business for sale without having to make any premature decisions by talking to one of the team at EvolutionCBS. You’re welcome to come along to one of our free EvolutionCBS Webinars or just call us on 0118 959 8224.

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