Four ways to hand off a privately owned business
Selling is one route. It is not the only route, and it is not always the first decision to make.
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Notes for owners
Before the process starts.
Notes on succession, sale preparation, confidentiality, and the decisions an owner should settle before inviting anyone into the process.
The first six
Useful before you are ready.
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How to explore a sale without alarming employees or customers
A quiet process should still be a disciplined one. Privacy works best when access, timing, and purpose are clear.
Read articleCan the business run without you? A practical test
Taking a vacation is not the test. The real question is what happens when an unfamiliar problem lands on somebody else's desk.
Read articleSelling the business to an employee or management team
The person who knows the operation best may be the right next owner. The economics and the authority still have to work.
Read articleWhat to do when someone offers to buy your business
An unexpected offer can be flattering, distracting, or both. You do not owe the buyer an immediate answer.
Read articleWhat to prepare before speaking with a business broker
You do not need a finished sale book. You do need enough clarity to tell whether the broker understands the assignment.
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