It was nearly 20 years ago when I first approached this topic, something just about every consultant on the planet has an opinion about. While we’ve helped a fair number of privately owned companies get sold, I’m not here to tell you if or when you should sell your business. But what I can tell you is the characteristics I think your business needs to demonstrate to get the highest price possible. It’s a short but important list.
I could write a book on each of the questions above, but you get the point. If you’re not sure, or if you’re good for 4 out of 5, get an outside opinion from someone in the business – an investment banker, a business broker, or Your CFO for Rent. We’ve been there and we’ve helped get it done. But whoever you ask, be prepared to listen. They’re going to tell you a few things you don’t want to hear, but you should hear it before some potential buyer does.