SSHHHHHH......it's a secret

So you've built a business.  You're doing well.  What next?  Do you expand, stay the course, or sell?  Well, if you're like me and chose to sell, here are some helpful tips that can save you a ton of headaches down the road. 

1. Get your house in order. The most important thing to do is to make sure your business is performing as well as it can. Now is the time to assess your cash flow, your expenditures, your tax strategy and other elements of your operation to see whether they are optimal.

2. Consider the timing. It's always easier to sell a business when it's on the upswing. For this reason, owners of seasonal businesses should look to sell soon after their busy season begins

3. Consult with experts. There's no shame in seeking expert assistance. If structuring the sale in a tax-friendly manner, setting a price or other parts of the process are too much for you, consult your accountant and consider getting a business broker to handle the sale. That way you can focus on doing what you do best: running your business.

4. Show buyers a bright future. When a buyer buys a business, primarily the focus is going to be on the proven track record, but there is also the future potential to consider. One of your greatest assets as a small-business owner is your intimate knowledge of your own operation; use that to point out opportunities for the new owner to expand the business. The few days' work it requires may pay dividends in a sale.

5. BE QUIET.  This is incredibly important for 2 MAJOR reasons.  If word gets out that you're in the market to sell, customers aren't as likely to remain loyal to you.  Secondly, employees will use their "work time" as "job search time" if they know you're looking to bail as well.

Last, I highly recommend using a business broker, or someone who has actually sold a business before.  AND WHAT DO YOU KNOW?????  I've got this kind of experience!!!!

So, if you're looking to buy or sell a business, give me a call.  You'll be glad you did :)  Stay protected my friends.