One day you wake up and think, "That's it. It’s time for a change". As a business owner, there comes a time when you must decide if you want to continue coming to work everyday, facing payroll every two weeks, or perhaps, working through another string of holidays.
Just because its time to sell your business does not mean you’re throwing in the towel. Many times small business owners are ready to move on to other things; retirement, a new job, a new venture, more time with family, a focus on personal health, or any combination of factors.
Remember, one person’s headache can be another person’s stepping-stone to success. Anyone looking at a business opportunity always thinks they can do a better job. That's just human nature. And who knows, sometimes it takes a fresh point of view, along with the inevitable fresh influx of capital and elbow grease, to cause a change in direction that will place the business on the fast-charging path to success.
As a business owner, you might find yourself running out of steam, or perhaps the business has taken a down turn, but don't despair. You are what you think about. Sing a song, get out in front of that crowd and, by George, lead the parade to sell your business.
Selling your business is an important decision, second only to having taken the original step of buying or starting up in the first place. You would never embark on a new business venture without extreme optimism and enthusiasm, the same energy should exist when it comes time to sell your dream-- don't sell without giving it 110% effort.
Here are the recommended steps to realize your dream of moving on;
1. Decide to decide.
2. Be sure your books are in good order so as to be easily understood by someone who is not familiar with your operation.
3. Clean up the property, after all we’re not considering a “Going Out of Business Sale”; we’re proposing a “Going Into Business Sale”.
4. Decide on a marketing plan and establish a budget to accomplish it.
Some directions to consider;
(a) classified advertising
(b) a direct mail program
(c) postings on Internet sights that promote the greater area
(d) advertise outside the immediate area
(e) post on web pages that sell business opportunities like BizBen.com
5. Or avoid the above steps and retain the full marketing services and expertise of a commercial real estate or business brokerage firm. Let them do all the time and money-consuming promotions, advertising, pre-qualifying appointments, and detail management that go into locating quality prospective buyers.
There will always be someone out there willing to trade places with you. Just think positive. It’s been said that you achieve a powerful peace of mind once you decide to sell; you're just taking your hopes and dreams and moving on to a new level.
About The Author: Bob Hughes is a business broker in the Palm Springs/Coachella Valley (Riverside County) & San Diego areas assisting business buyers and owner/sellers with buying and selling businesses. You can reach Bob Hughes by phone at 760-323-8311.