How To Sell, Exit, or Liquidate Your Business
Thinking of retirement? Have greater business prospects in other fields? Learning the right approach to selling your business will be key to your next chapter.
There are a number of reasons you would want to sell or exit your business.
Whether it’s to move on to other new and exciting business opportunities, to take advantage of rapid growth in your current business, or because you want to retire, there’s no shortage of inspiration that could push you towards leaving or selling your successful business in the future.
A long vacation at the end of your business is great inspiration, as is the opportunity to take your wealth elsewhere, where you could maximize your profit and find greener pastures in new ideas that better reflect your interests and future.
Strategizing your exit from a business you’ve run is an incredibly personal and delicate undertaking. Regardless of what your plans are after the exit, you always want to be sure that whatever moves you are making set you up for success after you’ve exited or sold your business.
You’ve invested time, energy, and money into your business, and taking the proper precautions when either exiting or selling your business is crucial for your success after it’s all said and done. But your approach will vary depending on where you want to be.
Selling Your Assets
The most common forms of exiting a business include selling the assets of your business, selling the shares or membership interests, or liquidating or dissolving the business entity as a whole.
There’s a number of tangible and intangible items you want to consider when planning to sell your assets. These items include equipment, property, intellectual property (which include grants, patents, trade secrets and more), as well as customer lists. Each of these items carry their own unique significance in the scope of your business, and pursuing an asset sale could help maximize your value when exiting.
So when would you choose an asset sale? Most business leaders choose this pathway when they want to continue operating their…