When you have a business that you're wanting to sell, do you really know what is required of you? How do you really know you're ready? Is it something you've thought through and have prepared yourself for? Selling a business is a different caliber of selling, and there are so many details to consider. While you may think it is just a simple task, it's so much more than that. There are a lot of things that you should be thinking about, and one of the very first is the possible methods for selling a business.

Maximize Value How can I maximize the value of my business? As a Transworld Business Brokerage, we are asked this question frequently. There are steps and strategies a business owner can employ when preparing to sell a business. The key is preparation – the better prepared your exit strategy is, the higher the selling price it will command, and the more likely it will sell. A few minor enhancements can dramatically increase the marketability of your business.

If it's your first time involved in buying or selling a business, there may be some terms with which you're not familiar. Some of them are very important and having an understanding of what they mean will be very helpful.

When you’re a business owner, the end of the year tends to look a little different for you than for the rest of the world. While others focus on the changing weather, upcoming holidays, visiting with loved ones, and eating comforting meals, you’re more likely to be crunching numbers, meeting with your accountant, and balancing an annual budget.

When you’re selling a business, it can be all too easy to get tied up in the process. After all, selling a business requires preparation, gathering info for the valuation, listing and working with the buyer through due diligence . Instead of getting bogged down by the to-dos, remember one thing: you cannot sell a business without a buyer. In order to attract the right buyer for your business, it’s important to focus on the key things buyers are looking for. Read on for what to expect when selling a business.

While business ownership, and more specifically small business ownership, hasn’t been a primary talking point throughout this election cycle, we cannot ignore the potential for impact. Business owners always seem to have a lot at stake during election years – and this year is no different.

As a business owner, when do you know the time is right to sell a business? If you're like many business owners, an ideal scenario might be selling your business at the same time as when you plan to retire. Right after your business is sold at maximum value, you can start your retirement journey, which may include sailing into the sunset with your new boat and all of your dreams coming true. Sounds perfect, doesn’t it? 

Scott Hislop, President and Owner of Transworld Business Advisors of Minnesota, addresses the question about ensuring employees are taken care of when selling a business.

See Scott Hislop, President and Owner of Transworld Business Advisors of Minnesota, as he answers this question by focusing on the goals of the buyer.