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Considerations in Selling Your Business- Part 4: Preparation for Marketing the Business

by Patrick B. Mathis, Shareholder at Mathis, Marifian and Richter, Ltd.

Preparation for Marketing the Business

There are many considerations prior to initiating the marketing of a potential sale of a business including personal and family concerns, both financial and non-financial goals, valuation of the business, analyzing market opportunities and selecting a marketing approach. In addition, prior to entering the market, many sellers need to “clean-up” the business to eliminate issues, or potential issues, which may negatively impact its value.

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Considerations in Selling Your Business- Part 1: Non-Financial Aspects

by Patrick B. Mathis, Shareholder at Mathis, Marifian and Richter, Ltd.

Before initiating the sale of your business there are many preliminary considerations.

From a non-financial standpoint, are you ready to step out of the owner’s role? Are you prepared for retirement? Is your spouse prepared for your retirement? If transitioning to a child, is he or she ready to run the business? If several children are involved in the business, will they smoothly transition into new roles upon your departure?

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