Initial Issues in Selling Out

 

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Before you actually begin the process of selling your business, there are a number of issues you should consider:

• Defining your priorities: what aspects of the sale are the most important to you?
• Timing your decision: what's the best time to sell your business, and how long will it take?
• Choosing professionals: what kind of professional help will you need, and how will you find it?
• Legal/ethical considerations: does your position as a partner, shareholder, officer, or director of the business affect your ability to sell out? How careful must you be in describing your business and disclosing problems to potential purchasers?