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Is it Time to Sell your Business in Tampa?

Timing is everything
if you want to sell your business for a high price. In order to receive the
highest price for your business, pay attention to these five signs.
 



1.
 Your contribution to
the business diminishes



 





 


 


Many business owners
started with a dream and through hard work achieved success. If you find your
contribution level diminishing it could be a red flag. Contributions diminish
for various reasons. Perhaps personal commitments are pulling you away from
your business. Businesses do not perform well without a leader. Typically a
withdrawing owner is the beginning of the end, so get out now before the value
you have worked so hard to achieve erodes.

     Perhaps you are bored. Losing interest
with the day to day operations can cause problems. Maybe you really prefer the
creative entrepreneurial spirit. Growing a successful business requires
concentration and effort. So if you are not willing to focus, staying in your
business may not maximize the value of your enterprise. It may be time to sell
the business and find something that motivates you.



2.
 Other companies are
being purchased


Keeping abreast of the industry can pay off in a big way. Most industries go
through acquisition cycles where valuation multiples increase substantially.
Not only should your keep an eye on competitors, but watch for suppliers who
might be looking for vertical acquisitions. Business cycles can be long, so
stay on top of any acquisitions, large or small in your industry. Much like a
housing bubble, if you can see a flurry of activity in your neighborhood, it
may be time to hand over the keys.

3.
 Your need for
liquidity increases


Selling a small business is not an easy decision. Nevertheless, proper planning
can save you a bundle in the long run. You worked hard and are looking forward
to the retirement you deserve. If you're within five years of retirement, you
may need to start planning now. In order to get top dollar for your business
some additional housekeeping may be in order. This can take some time, so it is
best to think ahead.
 



 

Published Wednesday, January 12, 2011 9:56 AM by Pete Harrison

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