It is often said: “Timing is everything”. Timing is also the most likely reason that a business sale may fail. As a potential sale drags on, the business owner is left in an uncomfortable state. Why? Mostly because of lack of planning; business owners must prepare themselves – here are five more things to you exit planning list:
1. Sell excess inventory/write-off obsolete inventory
2. Collect aging accounts receivable and make them current
3. Remove unnecessary family expenses
4. Understand the “net” after the sale proceeds
5. Create a control plan for quality control
