Selling a business is a big decision, and a little anxiety about the process is normal. Axial’s Middle Market Review asked Steve Raymond, Managing Director at DAK, about the biggest concerns he hears from clients.
What’s the top concern you hear from prospective sellers, and what’s your advice?
Sellers are constantly asking us questions like: When is the “best” time to sell my business? It seems that we are in a seller’s market now; should I put my toe in the water now or should I wait to generate stronger revenue or profitability? Am I leaving money on the table not selling now?
All businesses are unique, and the market for them is just as unique. When selling a business, an owner has to consider a myriad of issues. Valuation, while important, is not the only consideration. Owners need to consider not only what is best for themselves, but also for the business. Think carefully through the implications of a sale, both to the owner and the business. This exercise will allow the owner to prioritize what is most important. Allow these priorities to set the timing and the potential targets in a sale process. An owner is more likely to develop a successful outcome when success is defined at the front end.
[udesign_icon_font name=”fa fa-address-card-o” size=”1.5em”] MORE ABOUT STEVE RAYMOND