Getting Ready to Sell Your Small Business [INFOGRAPHIC]

Starting a small business takes heart and guts — and so does selling that beloved business. The decision to sell can be heart wrenching, but whether you’re doing so because the work is no longer enjoyable or because you need more time outside of work, the desired end result is often the same: You want to ensure that you’re adequately compensated for the time and sweat you invested into making the business what it is today. Getting ready to sell? The below infographic takes you through the four main stages of a business sale and provides tips to help you get the most out of the process.

selling your business infographic

Infographic by Column Five

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About Tammy Lam

Tammy Lam is on Intuit's small business communications team. She lives in San Francisco and loves using mobile apps to explore the city's endless array of local restaurants and nightlife. Follow her on Twitter at @Tam_Lam and share your favorite spots!
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15 comments
Troybd
Troybd

Good overview. The Boy Scout movement saying "be prepared" is certainly key to protecting, growing and ultimately realizing value.I would add that the preparing a business to be exit ready may take over two years to bed down and then need to be maintained whilst the business grows. Being in a state of readiness for any unexpected event Read more:http://www.diybizvaluation.com

JJ
JJ

Small Business owners should ensure that they are adequately compensated for the time and sweat invested into their businesses when they make a sale. However, small business owners often don’t know what their business is worth because it has been time consuming and costly until now. The good news is, there is a solution. Check out BizEquity.com, an easy 7 step process which makes use of the most up to date industrial data and effective algorithms to valuate small businesses! Try it for free today! (No subscription is required) 

Oleksandr
Oleksandr

Very interesting and cool!) - thanks you very much

Alan Young
Alan Young

Looking for some more exposure for your business? Or maybe you just like to help people by giving and sharing advice? newsletter, article resources, and blog. Read more to find out how to contribute your expertise.<a href="http://www.skyerbiz.com/">sell a business</a>

jhonmichael
jhonmichael

I like this weblog very much so much great info

Tammy Lam
Tammy Lam

Completely agree, Martin! Readiness is the first key to success. Julie- thanks for the tip!

Julie Morris
Julie Morris

Don't forget the value of business appraisers!  You can find one that specializes in business valuation at the American Society of Appraisers www.asa.org  .  We see lots of family businesses struggle with determining the right exit price.  @FamilyFounded, familyfounded.com

Martin Leech
Martin Leech

Good overview. The Boy Scout movement saying "be prepared" is certainly key to protecting, growing and ultimately realizing value.I would add that the preparing a business to be exit ready may take over two years to bed down and then need to be maintained whilst the business grows. Being in a state of readiness for any unexpected event ( good or bad) requiring a sale will ease the stress levels through the sale process and help securing a higher return.

blog seo
blog seo

Nice informative Infographic.

runtzka
runtzka

This is a good overview of the main steps of selling a small business. I would add the word "confidentially" to the heading "market your business to potential buyers" as identifying that a specific business is for sale introduces risk. Business brokers have established systems to protect the confidentiality of a business. And that leads me to a second point about the roles. I realize this is a high-level exercise, but from the infographic it would seem that the onus is on the business owner to qualify the buyers and negotiate the sale.  Business brokers will screen prospects to confirm their resources and potential for assuming the business, then facilitate meetings between the owner and buyers that are serious. This lets the owner focus on running their business. And the owner also benefits when the business broker does the negotiating, helping each party stay on good terms to reach a deal that works for both.

Tammy Lam
Tammy Lam

 @blog seo Thanks! Please share with any of your small business owner friends. 

Tammy Lam
Tammy Lam

 @runtzka Good tips! You're right--we did try to provide a more high level overview of how to sell a small business, but I'm sure business brokers are a good choice for some. Thanks for adding to our post!

RahulDev
RahulDev

@runtzka

A popular online marketplace for people who want to sell their business at the best price, and a favorite destination for both buyers and sellers since 2004. Sell your business for sale by posting a listing online. Attract buyers from all across your region.   <a href="http://www.skyerbiz.com">how to sell Business</a>.

 

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