lasts forever. And, for better or worse, the day may eventually come when you
look at the possibility of selling your company. But how do you know when the
time is right?
There are a
number of scenarios that can come into play when deciding whether to hold or to
sell, especially for smaller companies:
a family-based operation, run by a husband-wife team or a group of siblings, it
can sometimes be difficult to find other family members who are willing to step
in and take over the management or ownership role.
smaller operations have been in business for decades, and their owners are now
reaching the point in their lives where they want to retire or take on a lesser
industry is growing in a number of ways that present both economic and
technological challenges. This is causing some owners to rethink whether they
want to gear up or retool their businesses in order to meet those challenges,
or whether it would be easier to just sell and get out of the business.
All of these
scenarios require careful consideration, not only about whether it’s right to
sell but who you’d like to sell to. It also means weighing a complex balance of
personal desires against long-term business goals, as well as factors such as
the current economy.
excited by our industry? Can you see yourself continuing for the next 10 or 15
years? If not, you may want to talk with
other owners or someone in the financial services industry to see what options
you have to turn over the reins.
will know when it is time to sell. In the meantime, keep your company
invigorated with employees who evolve with new trends and meet future demands
of customers. That keeps you poised for growth and on top of changes – whether
or not you decide to market your company to another investor.