You might not be able to imagine it yet but running multiple businesses at the same time isn’t as hard as you might think. In fact, knowing when the right time to sell your current business or finance a new business venture can be more difficult than running them!
There is a lot of advice out there about when to buy or sell your business. But what if you own multiple businesses? Should you wait until all of them are ready to sell? Should you sell one now and then invest in another?
Keep reading to find out.
Delegate
What do you look for when you are searching for employees? Most would say reliability, willingness to learn, dedication, and consistency. Owning a business is all about delegating. You hire good employees and quality managers to manage the daily operations of the business. You hire qualified and experienced tax professionals to prepare your quarterly and yearly tax returns. When the time comes to purchase a new business or sell your existing one you should delegate that too.
The business brokers at Transworld Business Advisors of Indiana can help guide you to make the decisions that are right for you and your family’s future. You don’t have to navigate buying and selling your business alone!
Find Experts
If it’s not in your wheelhouse, hire it out! If you’re anything like us at Transworld Business Advisors of Indiana, we’re not marketers, artists, or accountants—we’re business brokers who know how important it is to keep our focus on what we do best: helping you buy and sell your businesses. Maximize your time, minimize trial and error, and hire someone who knows what they’re doing. (Buying or selling a business? That’s us!)
While there is a robust group of professionals who run and manage multiple businesses, it is a path that requires intention, structure, and planning. Hiring experts allows you to delegate tasks, milestones, and lets you focus on your businesses by building relationships and executing growth strategies.
An expert business broker can help you navigate trends in your industry, and help you seek spaces in new markets that peak your interest.
Be Flexible
It's a great time to sell your business, but that doesn't mean it's the right time.
It's a great time to buy a new business, but that doesn't mean it's the right time.
We can't tell you if it's a "good" or "bad" time to sell your business. We can't tell you if it's a "good" or "bad" time to buy a new one. What we can do is prepare you for that moment in time when you are ready to sell, or buy, and set up a plan to have a seamless transition!
No matter your original game-plan, there is always room to adjust. If your long-term vision isn't being met with your current goals in place, it might be time for a change!
At Transworld Business Advisors of Indiana, we help sell companies like yours, while exploring opportunities to expand your reach into new markets! If you own multiple businesses, the last thing you have time for is managing the right time to sell your current adventure or pursue a new one. Good thing you have us!
Get started today.
