Don't start preparations too late

When will you start preparing for business transfer?

Business transfer

How long in advance should you start preparing if you want to sell your business? Six months, a year, two years? Many business owners start preparing for business transfer too LATE.

If you want to sell your business, the first thing you have to do is be ready for it yourself. That means that your business should be able to continue virtually without you. This is where things often go wrong already: many entrepreneurs are indispensable to the business. And that causes problems when you want to transfer the business.

But there are many more things to consider as a business owner: who would you actually want to sell it to or not? Do you have a selling price in mind? And does that somewhat match the current value, or does it mean you'll have to kick it up a notch in the near future?

I help clients with a Business Transfer Plan, to get the entrepreneur and business ready for sale. We carry out the actions in the plan together. The final sale is done by the broker, but he or she gets a well-prepared business owner as a client.

By Okkie Boot
Business transfer specialist

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