When Should You Sell a Startup?

Being a small business owner means you have a lot of key decisions to make over time.

That said one of the biggest you may end up making would be when is the right time to consider selling what you own?

In selling a startup, you want to be as sure as you can that the timing is right.

You also want to feel good about where your small business sits now when it comes to finances.

No, few prospective buyers are going to have interest in a startup that struggles with money.

So, in doing your homework and sensing where things are at, would now make sense to sell?

As you may look to move on from a startup, put your mind to work and consider the pros and cons involved.

Know the Potential Impact of Selling

When looking at the up and even down sides to selling your startup, here are some things to mull over:

  1. Cashing in on what you have – If the market in your industry is hot right now, this can be the best time to go ahead and sell. Keep in mind that things may not get better than they are now for you. As such, waiting to sell down the road could be an iffy proposition for you.
  2. You need a challenge – If feeling a little worn out by what you’ve been doing, this can be another reason to sell. You do not want to get to the point where you feel burned out. If that occurs, it can have a negative impact on the business and also you.
  3. New opportunity is waiting – Even if you love a startup you have called your own, could a new one be waiting? If the answer is yes, it may be too good to turn down.

When determining if the time to sell is now, take your time so you can make the best decision possible.

Moving Along Once a Sale Goes Through

If all falls into place for you and you do get the sale you’ve been looking for, what comes next in your world?

One such possibility will be you move ahead with another startup.

While making such a move is not unprecedented by any means, you want to make sure it is the right business move for you.

One key there is to take all that you learned from your most recent small business and apply some or much of it to a new one.

Yes, knowing what did and did not work in the most recent venture can have an impact on your next one.

Since you want to make your small business worthwhile; do all that is needed to make it a success for years to come.

Given many small businesses unfortunately fail within only a few years of opening, don’t be one of those.

Selling a small business and taking a next step can be exciting and intimidating.

With that in mind, are you up to the challenge?

 

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