Thu, 18 January 2018
Full show notes at https://freedomfastlane.com/
You’re scaling your business up in value. Well done!
Have you considered how much it’s worth?
You may not want to sell your business now, but if you don’t take a good hard look at how much it’s worth, you may be overlooking something important.
You may be overlooking the most valuable asset you’ve ever held. And at a better time than ever to think about its value.
It’s a seller’s market for businesses right now. You can sell a seven-figure business for at least a 3-4.5 multiple, depending on how well organized the business is and the strength of its brand.
Sounds exciting, right? It is, but it can be complicated. There are a lot of things you need to take into account when selling your business.
An interested investor will start off with a formal Letter of Intent to purchase your business, proposing how the sale may go about. They’ll want to look through your books, to see how organized the company’s financials are. They’ll check to see if you’re holding any valuable intellectual property.
In general, you’ll be looking to go through an extended due diligence process, while also keeping your business up-and-running throughout the transaction. Not an easy thing to do.
Luckily, brokerage firms like Logan Chierotti’s Bizsold help facilitate the entire process for entrepreneurs. Even if you’re not looking to sell at the moment, Logan’s got lots of useful information for us about the process!
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