Your first step
So you’ve been thinking about selling your business for a while now and believe it’s worth a premium due to the blood, sweat and tears you’ve put into it over the years. However you’re really not sure of the next step? Sound familiar?
If you want a premium sale price then let’s hope you’ve been preparing your business for sale for at least the last 2 years. Many business owners fail to take this first step when they first think about selling. Without this preparation and planning, your business may not be worth as much as you think.
To begin with you should consult with your trusted professional advisor to review your businesses figures. They can advise on what items you need to focus on and improve in your business. This may be anything from improving your gross profit to ensuring your client contracts are up to date. Whatever improvements you do, it will take time to reflect these in your bottom line.
Kim Jay CA – Director