When to Sell your Business?

Sometimes someone will say something to you that sticks around forever. They may be a friend or someone you randomly chatted with. I can remember having a conversation with a guy that I knew through a business relationship. We were chatting about what the right time is to sell your business and he said something that was so simple yet outlined when it was the right time. He said, "When someone wants to buy it."

Simply put, when there is a party that is interested in acquiring you business it is the right time to look at selling it. When there are multiple parties it is an even better time.

The first I sold because we had come to a point where we got as out of it as we could. The second I sold at a time when there was much interest and plenty of blue sky. I can tell you it is much easier selling a business with blue sky than without.

So if someone is sniffing around your business, it is a great time to figure out the value. If one company sees value in your business there are probably others who would also be interested and maybe sweeten the pot.

Cheers,
Mike