As part of Phase 13: Selling your business we have been talking a lot about the best way to get ready for a sale. David Biddle has started many businesses over his career, including the lifestyle business Smart Boating. After selling that company he co-founded Brilliant Businesses a business broker that emphasizes the important of digital marketing. David has a really unique way of selling businesses by leveraging the power of social media.

Today we're going through our five top of considerations from a buyer's perspective when selling a business. This topic is really important because when you're selling a business you've got to think about what the buyers actually going to want. If you're thinking about it from a buyer's perspective then you're going to have the answers to the questions that that they're going to ask. These are the top 5 things you should be thinking about.

Today we've got the pleasure of welcoming Jenny Letts onto the show. Jenny is a forensic accountant based in Brisbane. Jenny founded the firm in 2013 after spending 15 years helping business owners who are going through a separation or conflict. We invited to join us because this month we’re talking about getting our business ready for a sale. Getting an accurate appraisal of your business is critical to getting a fair price. Jenny reveals some metrics you can use to know your value

One of the reasons we started the Business Legal Lifecycle was to help get your company ready for sale. It’s not an easy process. It can take at least two years to prep your business for a sale. There are so many different moving parts that you have to get ready. Those include getting your financials and agreements.

As you begin to think about selling your business there are a few things to consider. You can sell part of the business or sell the entire thing outright. You can also sell shares in the company and list it on a stock exchange. This is not a simple process and you want to make sure you get it right. On today’s episode we take a deeper dive into each of these options. Which one will be best for you and your business?

Using a business broker can be a huge help when selling your firm. But finding the right broker isn’t easy. Today on the show we reveal the 5 reasons why you would want to engage a business broker.

There are several different ways to sell your business. In this episode we discuss asset sales, share sales and listing on a stock exchange.

The end of the business lifecycle can be an exciting time. That’s especially true if you are trying to sell the business. It’s really the culmination of all the work you’ve put into the business after all these years. Here are the three ways you will know it’s time to sell your business.

Life changes

It’s really difficult to operate a successful business if you’re dealing with the added stress of unforeseen circumstances. Divorce, death and illness are just some of the things that can take your focus away from your business.

Thinking more about retirement

It happens to everyone. After years of slaving away at running your business the fires can start to diminish. If you’re thinking more about that beach house and less about the future of the company it’s time to sell!

Run out of ideas

When you first started you probably had so many ideas you could barely contain them all. Now after years in operation your inspiration may be failing you. Fresh thinking is critical to continuing success so if you’re out of ideas, it’s time to sell!

Today we feature an interview with Scott Lachmund a real estate agent based in Caboolture. Scott is also the founder of 4510TV, a community run online TV station. Scott is a really interesting guy with a lot of great ideas about how to build a personal brand. He also some great advice about how to buy property as an investment.

Time is of the essence. You hear it all the time in business. And it’s often included in contracts. What does it mean? It’s included to ensure that the certain obligations by one party to the contract are met within a specific timeframe. These clauses are almost always included in Australian contracts but it’s not as common in the UK.

This clause is often used in property transactions. It will be included to ensure that financing is secured for the deal within a specific amount of time. If the financing is not secured within that period the contract is null and void.

This is a really complicated part of the law. Just know that the use of this clause can vary and you need to understand how it applies before you sign!