Selling a business is tough especially when it is your first time to do so and not a lot of people to ask for advice about it. Here are some tips that might help you along the way.
- Time – you must have ample time to go through the process of closing and selling your business. Having enough time to think of your options before making a decision is essential.
- Exit strategies such as public offerings (IPO), strategic acquisitions, and management buyouts (MBO).
- To maximize the value of your proceeds, you might want to try estate planning, gifting, trusts and asset protection.