Tuesday, February 15, 2011

The Benefits of A Planned Sale of Your Business

As a business owner, you deserve to achieve the highest market price for your company. Begin planning your exit strategy with the same amount of thought and detail that you plan your customer service strategy or craft your marketing plan. By doing so, you will be able to walk away from your company knowing that you created something bigger than yourself and have the financial stability to provide for the next stage of your life. Creating and implementing an exit strategy for your business can be the difference between taking a long vacation or retiring in the lap of luxury after the closing!

A planned sale allows for an owner’s financial goals, objectives, and timetable to be achieved and not at the mercy of the buyers financial goals, objectives and timetable. A planned sale also allows you the opportunity to seek multiple potential buyers in the open market who will often pay a higher price than competitors or employees who don’t feel they should pay for infrastructure they already have or helped build.

Lastly, with a planned sale, you have time to understand the strengths, weaknesses, opportunities and threats of your company and make changes accordingly with the goal of significantly increasing the final selling price.

The above is an excerpt from the soon to be released book “EXIT! 12 Steps to Sell Your Business for the Price You Deserve” by Julie Gordon White. Julie is a Certified Business Broker, Author, Speaker, Wife, Mom and Marathoner. Julie lives in the San Francisco Bay area and has been quoted in major media outlets such as the New York Times, Wall Street Journal, Inc. Magazine and the San Francisco Chronicle.