The sale of a business is often the ultimate goal for business
owners. It's important to have a succession strategy and a sale
is the most obvious and popular route to go down – many
entrepreneurs spend years grooming their business to the point
where it is ready for sale.
But before you jump in and sell your business at the first,
tempting opportunity, think about the long-term consequences and
look at all the available options.
Some business owners end up selling too early and giving away
too much of the value of their businesses. This may be because
they've been working for years but still have significant
financial commitments, such as mortgages, school fees or other
debts. Or it may simply be because they're worn out or
they've lost their passion and want to finally enjoy the fruits
of their labour.
