Top tips for realising the best value for your business
There’s no feeling quite like growing a business to its maximum potential. But at some point, you need to consider an exit strategy such as selling. The sale of your business can be used to fund retirement or as capital for other investments, so it’s important to get it right to maximise what you get. Here are five tips to help you realise the return from your hard work.
Have a plan
When considering selling your business, first ask yourself why. When you know the why, you can answer the next question: how much? This isn’t the value of the business; instead it is about how much you need to reach your financial goals.
If you’re selling to retire, how much capital do you need to maintain your lifestyle? If you’re investing elsewhere, what returns do you need to receive to meet your goals?
If the value of your business doesn’t meet your goals, then don’t despair. Like selling a home, there are several options available to “spruce up” your business. Read more
Olivia Maragna - Business Times - 11 Aug 2018