Selling your business is an exciting time for most business owners. That said, often times business owners have never even considered that their business was sellable so when an offer comes through, they are completely unprepared and unsure how to proceed.

 

I will be discussing the three main things that I think you should be aware of as a business owner when engaging in negotiations to sell your business. You don't want to be caught in a situation where the money is clouding your judgment.  Use these tips to make sure that you are prepared.

 

[0:50] Do you have an exit strategy for your business?

[1:55] The #1 thing to be ready for when selling your business: terms of the agreement.

[5:03] The #2 thing to be ready for when selling your business: depreciation recapture.

[11:22] The #2 thing to be ready for when selling your business: understanding your basis.

 

Related episodes:

Questions to Ask Yourself as a CEO

Why You Want to Build a Sellable Business

Get Back In The Driver's Seat Of Your Business Finances

 

Tactical Resources:

5-Day Financial Mindset Refresh: https://www.keepwhatyouearn.com/refresh

Create a Custom Podcast Playlist: https://quiz.tryinteract.com/#/6303d4c525b1e80018d47cfa

Grow Cash Flow for Your Business: https://www.keepwhatyouearn.com/endless-cash

Tax Deduction Guide: https://www.keepwhatyouearn.com/tax-deduction-guide

CFO Power Session: Text POWER to 860-609-6374

See how much you can save with an S Corp: https://www.keepwhatyouearn.com/keep-what-you-earn-s-corp-calculator

 

Additional Resources:

Find everything you need at https://www.keepwhatyouearn.com

Questions about this episode? Text me!: https://my.community.com/shannonweinsteincpa

Hire us: https://www.fitnancialsolutions.com/accounting

Find me on IG https://www.instagram.com/shannonkweinstein/

Meet me face-to-face on YouTube: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ

 

 

The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.