Mature

You’ve determined it will soon be time to exit your business. This can be for a variety of reasons.

It’s important to consider the following:

• Why are you selling? Retirement? Or maybe it’s the right time in the life cycle of your business to sell
• Or, could you reinvent the company with new or different products and services to essentially go to the “Growth” stage again?
• What is your time frame for leaving the business?
• Do you expect to sell to current employees or an outside buyer?
• Be realistic about the value of your company. Have you run your company like a business, or have you simply created a job for yourself?
• How can you maximize profitability of the company?
• How will the transition be handled?
• What is the most tax efficient way to structure the sale?
• How do you invest the proceeds of the sale?
• What will you do next in life?