When you started your own business, you probably weren't thinking ahead to the day you would sell it. But after years of hard work spent building your enterprise into a success, that time has now come. You'd like to cash out and move on to the next phase of your life. Selling your business, usually, is a one-time event. Unless you start and sell several businesses over the course of your career, you're probably not going to have the benefit of experience to guide you. So, you'll listen to some advice. Regardless of the type of business you have, know that there are fundamental issues you'll have to deal with when selling out.
1. Determine a value, factoring in your bottom line.
2. Figure on recasting your financials.
3. Don't count on a cash sale.
4. Keep it quiet.
5. Use a broker.
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