You will have worked hard to build up your business from scratch and there is often a great sense of pride and satisfaction when you reflect on what you have achieved to get to this point.
However, even when you are inspired by success stories and opportunities you read about on sites like bullpreneur, there will come a time when you may consider selling your business and cash in on your achievements
The question is, what are the key signs that are telling you its time to sell up?
You have reached a peak
Running a business can take you in all sorts of directions and there are often new opportunities to explore but there can also come a time when you start to feel that you have taken the business as far as you can.
Achieving consistent growth is challenging and it is almost inevitable that you might reach a peak where you find it tough to take the business to a higher level, prompting you to consider whether you have reached the end game.
Lack of investment
You may well have invested a fair amount of personal cash in the business to keep it going and fund growth but there will also come a point when you either don’t have any more money to invest or feel that you can’t justify any further financial commitment.
Getting that cash back out of the business to fund new plans or for your retirement plans would be a solid reason for thinking about selling.
Spotting the peak
If you have the foresight to see when your company is at its peak and commanding a high premium that could be the key moment that triggers your decision to sell.
Market conditions are constantly evolving and if your business is enjoying its moment in the sun you might well be able to sell for a much higher price than it will be worth in the future.
Not the same thrill anymore
Your motivation levels will be at their highest when you first start out in business but they could start to fade as time goes by, especially if success has bought you a degree of comfort and financial security.
If you don’t feel as motivated about running your business as you once did it might be a good time to sell.
Too good to turn down
It might be that you had no specific intentions to sell your business, but if the right offer comes along it could prove too much to resist.
Crystalizing your hard work and achievements into hard cash could prove to be a defining moment in your life and if the right offer comes along why wouldn’t you consider cashing in your chips?
A dazzling offer that values your business at the top end of what you think it is worth is bound to get your attention and could be the catalyst for deciding that it is definitely time to sell your business.