DISCLAIMER
These articles are for general information purposes only
and do not constitute legal, accounting or other
professional advice. Important financial and legal
decisions should be made only after seeking appropriate
professional advice based on your specific situation.
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Is Your Business A Pain, Or A Pleasure...
and Can You Imagine Life Without It ?
by Noel Peebles
Author of "Sell Your Business The Easy Way"
If your business is successful, then chances are you have poured
most of your time, energy and spare money into it - for what may
have seemed like forever. Your company may have become your
life . . . an extension of yourself.
Can you really imagine life without it ?
Is your family dependent on your business ? Do you discuss
it around the dinner table ? Is your business an education
and training ground for your children... a way for them to gain some
working experience and earn some pocket money ? Could it be that
your business is like a member of your family ?
On the other hand, is your business a ball and chain around your
neck which you can't wait to get rid of ? Or, when you first
started, did you only intend to stay a short time and things sort of
never turned out that way ?
Whatever your situation, selling your business will be one of the
most important things you'll ever do. It's very important
that both you (and your family), and your company are ready to make
the change. And it could be a big one !
For starters, you must be prepared to hand over the reins of
ownership and management to someone else. You must accept
that they might do things to your business that you would never have
dreamt of doing. They may replace all your staff, they may
change the marketing focus. They may even grow your business
to the great heights you always hoped for but never quite achieved.
On the other hand, they may destroy everything you've built
up.
I saw it happen recently. A friend successfully sold a
very profitable business, only to watch it disappear "off the face
of the earth", a short time later. This can be very disheartening
especially when the new owners won't listen to your experienced
advice.
With careful preparation you can alleviate much of the stress,
from what will probably be, the biggest sale you'll ever make !
And . . . you'll only get one chance at it. There's
only one opportunity to put on a price tag that represents your
years of toil.
Do it once - Do it Right, because once you've signed the sale
documents it's all over ! It's history !
This Article is copyright © Noel Peebles
Author "Sell Your Business The Easy
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