Timing is Everything
Every Business owners has had thoughts of selling their business someday. But knowing when to sell is often the harder question to answer.
Business owners seldom sell their business too soon, but there are many who sell it late. Selling on your terms will make a huge difference to your final outcome. There is nothing better than going to the market with no deadline or background pressure and going out on your terms.
The last thing that a seller wants to do is leave it too long and have their business sale subject to one f the 4 D’s- Death, Divorce, Dissolution, or Declining Sales.
I once read an article from a stock trader who was asked when is the best time to sell your shares in a company. The answer was extremely insightful and it could also be applied to know when to sell a business.
His answer was “When I am looking at exiting, I don’t waste my energy worrying about if my investment has reached it’s peak. No one can predict if a stock is at the highest price. But often you have a general gut feel of if the timing is right.“
“I will focus on if there is something better for me to move onto. If I have had a win, I’ll take that win and be satisfied that I have had it. I won’t worry about trying to make the gain larger because you don’t want to look back and think “I should have”.
I think the same can be said for sellers of a business.
Selling is a big decision so there is no need to rush. But going out on your terms will always be the best way to exit your business.