When is the Right Time to Sell Your Business? Internal & External Factors Can Help You Decide
By Tim Moore, an EO Houston member and managing partner, TR Moore & Company, a Doeren Mayhew Firm.
One of the toughest decisions a business owner will ever make is to sell his or her company. Sometimes sales are forced, as in the event of financial distress, bankruptcy or an owner’s unplanned departure. But in most cases, owners must carefully assess their company’s financial and competitive position and determine the best time to sell, given their own future plans. Success — a smooth transaction, good terms and a fair price — largely depends on how well you’ve prepared for this important event.