Top 3 Succession Planning Myths – #3
Business Bites Succession Planning
Please Share, Follow, and Like!
Myth #3: "It's Easier to Just Sell It."
Wait a minute. Who and where are all these wiling buyers? How much will you sell the business for? When exactly are you putting up this proverbial "for sale" sign? Realistically, timing the sale of your business, as well as objectively determining the fair market value of your business can be challenging, and require serious planning and care. Typically valuing a business cannot be done just once, and may be based on more complexity than just revenues, fixed assets, and profitablity. Before rushing into the sale of your business, find a good advisor who can orchestrate an independent valuation of the business, and can guide you through the proper valuation data and periodic review.