How to Avoid Regrets When Selling Your Business

For years, you have spent countless hours and allocated immeasurable effort into growing your business, and now the time has come to sell. Even with an offer that exceeds your expectations, you may have trouble letting go. When selling your business, to avoid regrets later on, take slow and careful steps.

Get an Accurate Valuation

Before considering any offer to buy, get an accurate valuation of what your business is really worth. An objective opinion from a professional will check any bias you might have. A business evaluator will calculate fair market value.

The fair market value is based on your property and equipment, inventory, and other assets. Your earnings and potential earnings may be factored in. Valuation also considers negatives, such as debts and liabilities. By knowing what the fair market value is for your assets, you will be in a better position to negotiate.

Find Someone Who Cares About Your Business

Since you feel an emotional connection to your business, you want to make sure it will continue to thrive in the future. You want to find a buyer who is aligned with your core values and who understands what you do. Not all buyers will fit that profile; many are just looking for a quick profit.

If you want to find a serious buyer, you’ll need a good marketing strategy. Start by spreading the word with owners of businesses similar to yours. They may be interested in expanding. A business broker can also be helpful, but make your goals clear.

Move Toward Your Passion

Long before you sell your business, you should have clear plans for your next step. Speak to a financial professional about how to invest your proceeds and reduce tax liabilities. Then move toward doing something you love, and you’ll have no regrets.

You may want to take some time off, enjoy your family, or travel the world. If you’re not quite ready to retire, think about what your passions are and how you might make them come true. You might have hobbies you wish to indulge in or causes to volunteer for.

Selling your business can be a stressful and emotional time. When the time comes, it’s likely you’ll have mixed feelings about walking away, at least temporarily. A hasty sale can leave you with regrets, but if you take your time and plan, you’ll reap the benefits without the downsides.

Did you enjoy this article? Here’s more to read: WHAT YOU NEED TO KNOW BEFORE OFFERING EQUITY COMPENSATION


All Categories

Business Operations

Entrepreneur Interviews

Marketing, Networking, & Social Media

Self Care & Personal Development

Working Moms

Business Software and Technology

Entrepreneurship & Small Business

Organizing Tips


Career Building

Family Businesses


Starting Your Own Business

Work-Life Balance


Hiring Help

Management & Leadership

Time Management & Priorities

Women in Leadership

Recent Posts

Business Blogging 101: How to Create and Sustain a Successful Blog

Business Blogging 101: How to Create and Sustain a Successful Blog

For businesses, business blogging is becoming a powerful tool to not only attract and engage new customers but also to build brand authority and ultimately grow your brand.
This comprehensive guide will equip you with the essential knowledge and strategies you need to start and succeed in the dynamic world of business blogging.

How to Protect Your Merchandise From Theft

How to Protect Your Merchandise From Theft

Protecting your merchandise from theft is a critical aspect of running a successful business. In a world where security threats are ever-present, safeguarding your inventory is essential. Not only does it protect your bottom line, but it also ensures the safety of...

Experts You Need to Have at Your Business

Experts You Need to Have at Your Business

In the dynamic world of business, having the right team of experts is not just beneficial; it is essential for success and growth. For female leaders who are carving out their paths in business, marketing, or HR, knowing which experts to have on board can make a...

7 Tips for Asserting Yourself as a Woman in a Medical Workplace

7 Tips for Asserting Yourself as a Woman in a Medical Workplace

As a woman in a medical workplace, you have a lot of responsibility, not just to yourself but to other women who will come along after you. Asserting yourself in your workplace and gaining the respect of other employees and leadership is essential to a successful career. You have worked hard to get where you are, you don’t want to lose momentum.

Continue to grow with online leadership training and more. Follow these tips to assert yourself in the medical workplace.