Should I sell my business? What to decide before a buyer calls
Sell when you know what you want next and the business is worth more to a buyer than it is to you. Before any buyer calls, decide what you're willing to walk away from and what the business looks like without you in every room.
Don't let a bad quarter pick the date.
I started at 17 in Navy search and rescue, checking every part of the helicopter before the crew flew.
The question under the question
Most owners asking "should I sell" are really asking something else. Am I tired, or am I done? Is this offer good, or is it just the first one? What do I do on Monday after the wire hits?
Answer those first. The price conversation goes better when you already know.
What buyers look at
Whether the business runs without you. If every deal and every big client depends on the owner, that's the first thing they'll discount. After that, clean numbers they can trust and revenue that repeats.
Private equity offers
A private equity group is buying a return. That can be a great deal for an owner. It can also mean you stay on for years under someone else's plan. Know which one you're signing up for before you sign.
Timing
The best time to prepare for a sale is a couple of years before you want one. The best time to decide is before you're exhausted. Don't let a bad quarter pick the date.
Succession
If you're thinking about passing the business to family or a key person, the same rule applies: the business has to run without you first.
Where I come in
I've sat in the CEO, COO, CAO and CHRO seats, as a founder and as a partner. I help you see the whole board before you move. The decision stays yours.
The Private Strategy Session is exactly the kind of call this was built for: one decision, 90 minutes, $2,000.
"There have been several occasions when Noël asked a question that completely changed how I was looking at an issue. That is difficult to put a price on."
What people ask first
How do I know if I should sell my business?
When you know what you want next, the business can run without you and the offer beats what the business is worth to you over the next few years.
How much should I sell my business for?
Buyers price on profit, how much of it repeats and how much depends on you. A business that runs without its owner is worth more.
What is an exit plan?
A plan for how you leave: sale, succession or stepping back, plus what has to be true in the business before you go.
Should I sell my business to private equity?
It can be a strong move. Know how long you'd have to stay, who runs the plan after closing and what happens if targets slip.
When should I start planning to sell?
Earlier than you think. A couple of years gives you time to fix what a buyer would discount.
Do I need an exit planning advisor?
You need someone who can see the whole board and has no stake in the deal closing. Your broker gets paid when it closes. I don't.
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