https://industrytoday.com/article/prepare-business-sale/
In an article published on Dec. 22, 2016 in Industry Today, Rhys Wilson provides guidance to three steps business owners should follow before selling their business. Wilson explains, your first step is to determine the minimum sales price (MSP) for your business. Your MSP is the amount of cash that you must receive for your business, so that you can retire and live off the net sale proceeds for the rest of your life. Once you know your MSP, the next step is to determine the current value of your business. If the current value exceeds your MSP, then you can start the sale process, explains Wilson. Finally, increasing revenues and profits is necessary, but may not be sufficient to raise the value of your business to your MSP. Why? Because buyers will only pay for value that is transferable to them.
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