Like investing in the stock market, it is difficult, if not impossible, to time the sale of your business. So how will you know? Here are some signs others have used:
- It is time to retire.
- The passion that got you into the business has faded, making the company more of a chore than a passion.
- Financial performance isn't what it used to be. Perhaps you aren't as aggressive at marketing or not as active in managing the growth of the business. Whichever, you aren't doing what you did to be successful.
- You are thinking more about your time without the business than the business.
- Your health is deteriorating because you are prioritizing business over your health.
- The risk continues to grow the business exceeds what you are comfortable with.
- You believe the business has peaked (at least with you at the helm)
- The 5 "Ds" - Death, Disability, Disagreement, Divorce, or Distress