At BOOST we often work with clients who hope to sell in the next 3-5 years. Many aspire to cash a large check and sail off into the sunset. We know we are in the midst of market uncertainty (seriously, we’ve been on the cusp of a recession for a year now). Can you time the market? Is now a good time to sell or should you punt?
This article, written by our friends at sbLiftoff, makes several excellent points. Sharon Heaton, the CEO of sbLiftOff, shares her expertise on the complex decision of selling a business amidst market uncertainties. She challenges the conventional wisdom of letting external factors dictate the timing of a sale. Instead, she advocates for a more introspective approach, focusing on the company’s health and trajectory.
Heaton delves into the signs that might indicate it’s the right time to sell, such as a flourishing client base, improving margins, and a satisfied workforce. On the flip side, she discusses scenarios where selling might not be the best option, urging business owners to consider fixing internal issues first.
She also brings a fresh perspective on how economic downturns, often seen as unfavorable, can be harnessed as opportunities, citing the success stories of giants like IBM and Disney that were born in recessions.
This article promises to be a valuable read for small-business owners contemplating the future of their companies. To gain a deeper understanding of these insights and more, follow the link to the full article.