Timing is essential when it comes to selling a business. When is the right time to sell a business? The answer to this question is more of an art than science. When you make big decisions such as selling a business, it is a must to clear your mind from any form of distraction. Get a change of scenery if you must. Go to a place where you are most comfortable, a conducive place to think about your business. Reflect on these questions:
- Am I here?
- Am I clear?
- Am I really into my business?
- Am I serving my corporation, or does my business serve me?
Look at your business as your vehicle to time and financial freedom. After all, life is to short to live where you serve your business. Your business is thriving when you are not tied in it when you get to enjoy time and financial freedom with minimal efforts. Freedom is all about doing what you want, when you want, with whom you wish to, and as often as you want.
If your business doesn’t define the ones mentioned above or you’re unsure of the status of your business, then it’s not yet time to sell it. It is vital to have a clear vision of where your business is going for the next few years. If your business is going in the right direction, then it is a perfect indicator that you are starting to have a clear vision. If your business grows but not as much as you envision it to be, then maybe somebody can do it better than you.
Selling your business has never been an easy decision to make. It’s either you are selling it because you want to do something else, or you’re selling it because it does not give you the financial reward you are expecting. Once you have done everything you can but still didn’t reach your business goal, then it is high time to pass the baton to someone who can do it better. As a business owner, you cannot give up just yet. However, if you feel like you have done everything and nothing seems to work, then it is time to make a decision.
Freedom Factory – a leading business brokerage firm
If you are contemplating on whether to sell your business or not, or whether it is time to sell your business, do not hesitate to contact Freedom Factory. It is a Colorado-based business brokerage firm founded by serial entrepreneur, Robert Hirsch. Freedom Factory focuses on freeing entrepreneurs like you by helping you sell your business for its maximum possible value. Even if your business isn’t doing well does not necessarily mean you can’t sell it twice to three times its current value. With strategic planning – approach, timing, and strategy, you can maximize the worth of your business. Feel free to contact Freedom Factory to know more about selling your business.
Check out the Podcast When Is The Right Time To Sell My Business?