In This Episode
Several of our clients have recently been approached by folks who are expressing an interest in perhaps acquiring their company. We have found this scenario happens to most business owners at some point. The question is, how do you know it’s time to sell your business? Just because some stranger reaches out to you to chat doesn’t necessarily mean it’s a sign that you should sell.
There are several questions we have our clients answer to help them figure out how to know when they are ready to sell. Some revolve around financial issues while some are more philosophical. A quick sampling of questions we address in this show include:
- How much money are we currently taking out of the business (just a hint, you need to include more than just your salary)
- How much money do we need to walk away?
- What will I do next?
- What about other family members involved in the business?
If you’ve recently been approached by a potential suitor, this show is definitely for you. If you haven’t been approached yet, chances are you soon will and the sooner you start to get answers to some of these questions the better prepared you’ll be to know when is the right time to sell your business.
People, Companies and Resources We Mentioned in the Show
- Dr. Evil, Austin Powers International Man of Mystery (https://en.m.wikipedia.org/wiki/Dr._Evil)
- Spice Girls, Wannabe (https://en.m.wikipedia.org/wiki/Wannabe)
- Brooks from Shawshank Redemption (http://shawshank.wikia.com/wiki/Brooks_Hatlen)
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