You may wish to sell your business to gain financial freedom, or to provide funds for reinvestment in another business. But when is the best period during the lifecycle of a business to sell, for the maximum return? In this short video, ActionCOACH Kevin Stansfield gives his advice on the best time to sell your business.
When Kevin Stansfield became one of the UK’s first ActionCOACHes to gross £1million in revenue, it was clear his decision to buy the franchise five years before had been a good one, but Kevin knew he’d done the right thing much earlier than this:
Imagine yourself after ten or more years of running your business. You have made a reasonable living out of it, built a good team, have some great clients and overall, things are going OK. But the business is not quite as exciting to you as it once was. The motivation you had in the early years is a distant memory, the new challenges you enjoyed overcoming are now just tedious repetition. Bringing on board a new client does not have the excitement of the old days, and if a client leaves, well frankly, good riddance. Continue reading “Is it the Right Time to Sell your Business?” »
Most businesses never actually make it to the point where they can be sold for a decent price. The main reason for this is that the owner didn’t set out to build a business to sell; when they started the business, they just wanted an income to replace the salary they earned when they had a job. Continue reading “How to make a profitable exit from your business” »