Forbes: Preparing for the Sale
This is a topic that we return to time and again – how do you maximize business valuation (and more importantly, post-tax returns) in a business sale? A recent blurb by Forbes captures our sentiment closely:
“If a business owner is going to sell his or her company and wants to get the greatest return possible, it calls for some upfront planning in advance of the sales transaction,” says Carlo A. Scissura, president of the Brooklyn Chamber of Commerce. “The company itself needs to be prepared, which often requires a financial review and a formal valuation, and the owners and stakeholders should engage in wealth planning to mitigate the taxes owed on the sale.
Thats spot on. Businesses are complex beasts. As a business owner, you know that well. How can you expect it to just sell itself? Careful advance planning is critical. It’s even more critical when you realize you don’t get any do-overs.
The entire article is really worth a read – it’s short and hits home!