A recent article in Globe & Mail details the fact that the majority of small business owners who are ready to sell their businesses in 2019 are completely unprepared to do so. With SO many other business owners out there planning to close up shop and sell their businesses for a nice exit in a baby-boomer filled market, the statistics are mind-boggling considering we’re talking about the transaction of a lifetime, -literally. The author, Matthew Halliday states:
The article emphasizes the importance building the right team FAR in advance of the moment you’re actually hoping to sell. Preparation is key here…. If you do your research in advance, and start identifying buyers early on in the process, you stand a MUCH better chance of being able to play multiple bids against each other when the time comes to sell.
Takeaway lesson? Put together your business exit dream team early on in the process, and let them keep the ball rolling and keep you from getting distracted with day-to-day operations of your business.
To get matched with intermediaries that fit your geography, business, deal size and more, head over to BizNexus and get your top three suggested intermediaries today, for free.