In today’s episode, we’ll be discussing the critical steps business owners should take both before and during a business sale to ensure the process goes smoothly and maximizes value. We’ll explore the prep work you should be doing 12 to 24 months before entering the market, such as cleaning up financial statements, removing non-operational assets, and reviewing payment terms and margins. We’ll also dive into maximizing your business's value by focusing on cash flow, delegating key relationships, and preparing your business to run without you.
Then, we’ll shift gears to what you need to focus on during the transaction itself. From sticking to a clear process and vetting buyers properly to managing employee communication and preparing for management meetings, we’ll cover how to make sure your business is ready for sale when the time comes. Stay tuned to learn how to get your business in the best shape possible, both before and during a sale.
