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SBDC Buy, Build or Sell: Deciding the Next Steps for Your Business
April 6 @ 8:30 am - 11:30 am
It takes a lot of sweat equity to build up a successful business, and most business owners will eventually want to retire. For many, retirement may translate into selling your business – and it is crucial to prepare for a big exit, right from the start.
Even if you never plan on selling, building your business as though you will sell someday will make everything run more efficiently – you’ll be able to see how your business is trending overall, maintain a cleaner financial picture, and implement better standard operating procedures.
While there is no crystal ball that can tell you whether it’s time to buy a business, build your business or sell/close your business, there are ways to monitor the financial performance of your company that can help guide your decisions. This class will help you understand how to analyze your business’ financial performance as well as some qualitative factors to consider when making decisions regarding your investment in your business.
In this session, you will:
- Explore the idea of a “buyer” – who are they? What are they looking for?
- Tips for building your business to sell
- How to build credibility and clear financial statements
- Understand risk factors that impact value
- Understand qualities of the ideal time to sell
- Learn the basics of what to expect when selling your business – or what to look for if you are hoping to buy a business
Using this session as a launch point for longer-term planning can also help you set goals for what you need to achieve before you go into the market.