Planning to Sell Your Business? Then Avoid The Owner Dependency Trap

You may be planning to sell your business at some point, but will your business be ready for you to move on? Here are some tips for making sure your business is will attract buyers when the time comes.

Will you want to sell your business for a good price?

Owner-managers are often the biggest barrier to the growth and success of their own business. Few businesses achieve a successful transition from owner dependency to management team dependency.

If you want to ensure you will be able to sell your business at a good price, follow this three-point guide for business owners.

1. Start with the end (a successful business sale) in mind

• Selling a business that is wholly dependent on the activities and performance of its owner can be a problem: it is unlikely to attract a significant capital value on a sale.