The biggest mistakes owners make

Here are mistakes owners should avoid when selling a business.

Many businesses don’t have an exit plan or they don’t strategize adequately for a multitude of scenarios 

To avoid scrambling, or being forced to accept a lower purchase price, owners should scenario plan at least once a year 

Some owners, who could be used to a do-it-yourself approach, may try to do the same when it comes to a sale 

As a Certified Exit Planning Advisor, I know all of the necessary steps to take when navigating a business sale. 

Many business owners plan to pass their business to family 

Because their lives are so entwined in the business, owners sometimes stay involved for too long 

Many owners also underestimate the many emotional aspects that go hand-in-hand with exiting a business. 

They should also maintain an up-to-date business valuation.