You have dreamed for ages about running your own startup. You have spent countless hours figuring out how to get it off the ground and make it successful. So why in the world should you start planning an exit strategy?
You are preparing for the complex, daunting task of selling your business. Selling a business is no mean feat, and there are several intricate steps to take before the sale is complete. One of the most important steps is to get an accurate valuation of your business.
A business sale is not necessarily a sign of defeat. Indeed, a sale can be a mark of success—especially if the business owner is able to sell at a profit. That’s not to say that all sales will be successful, though. There are many mistakes along the way that can cost business owners dearly. One of the best ways to avoid these pitfalls is to understand them, anticipate them and do your best to avoid them. If you are selling your business, you should know these five mistakes to avoid.
Selling a business can sometimes be as challenging as starting one. In fact, approximately 60 percent of business owners are reportedly unable to reach a deal. This is a daunting statistic for small business owners who are ready to unload a company.
The end of one year and the beginning of a new one always brings big changes. If you own a business that is currently inactive, one change you may wish to make is formally shutting down your business. The end of the year can be the perfect time to dissolve a company. This can be a gut-wrenching choice, but it leaves the door open for exciting new ventures.
Many business owners will face the day when it is time to shut down their business. Whatever the reason, eventually the time may come when your company must cease operations and be dissolved.
It can be a particularly difficult decision to sell a business. Business owners put significant amounts of time, money and effort into creating their companies. When the time comes to sell, the process can be daunting.
Medicine shows once toured the country as pitchmen hawked the latest “miracle cure” patented medicine that could cure everything from common ailments to serious diseases. That is, when the magical medicinal was not smoothing wrinkles and removing stains.
There is perhaps nothing more exciting from a business perspective than a group of like-minded and talented individuals coming together to devise a unique product or service with a high profit potential.
Deciding to close your business can be difficult, whether you are a sole proprietor or part of a partnership, limited liability company (LLC) or corporation. Additionally, the business dissolution process can be more complex than you might think.