As it is with many things in life, timing is everything — especially when determining the right time to sell your business. Transworld presents the following list of questions that will you help determine if you should sell your business. Consider them carefully and answer them honestly:
- Am I ready to sell?
- Do I feel more exhaustion or passion when running the business?
- Could selling the business solve a problem or meet a strategic goal?
- Do I have the right people in the right positions to lead the company to the next level under new ownership?
- Will someone appreciate the business enough to buy the business?
- Do I have a viable business model?
- Is the timing right to put my business up for sale?
- Is the market right for me to sell?
- Do I have, or can I get, a top-notch team to market my business?
- Is the business ready to sell?
- Are my financials well-positioned and projected to show profit and growth?
- Can my business adapt and cope with the changes on the horizon?