The important thing is not being afraid to take a chance. Remember, the greatest failure is to not try. Once you find something you love to do, be the best at doing it.

Debbi Fields, Author

When is enough good enough?

Timing is the most crucial variables to maximize the return of any investment. Take Bitcoin trading for instance, which highlights the importance of timing perfectly. Bitcoin hit a record high of $19,783.21 on December 17, 2017 but is now trading as low as under $4,000.The same applies to selling a business.

So, try not to sell when the market is in a downturn: The value of your business is correlated to the market within which it operates – sell when business is good, not bad. If you anticipate growth in the future, hold for the rebound. And, of course, don’t sell to the wrong person because not all buyers are created equal. Do your due diligence for any potential buyer.

Why most small business fail in the last year?

  • Determining the value of your business

  • Defend your price during negotiations with the potential buyer

  • Maintain clean and accurate financial records

  • Improve the validity of your business’s valuation

  • Use financial records as the foundation of your defense

I make a conscious effort to keep things in perspective when I get burned out. It is easy to get stuck in the daily grind, but if you think about all the distance you have covered, and what lies ahead, it is much easier to feel motivated and optimistic.

Alex Litoff, Event Farm

A business valuation typically starts by assessing the value of your company’s current and long-term assets, income statements and receivables, short-term and long-term liabilities, and other metrics that show the financial health of your business.

The best way to determine your business’s actual worth is to hire a third-party accountant to conduct a business valuation.

A big mistake by business owners is when selling is overvalue or undervalue your business. Value is dictated by what someone will pay for it – so how do you determine the value of your business?

  • Determining the value of your business

  • Defend your price during negotiations with the potential buyer

  • Maintain clean and accurate financial records

  • Improve the validity of your business’s valuation

  • Use financial records as the foundation of your defense

The accountant will then look at market indicators to determine the long-term viability of your company and industry, as well as what similar companies have sold for recently. These various factors are weighted and combined to determine the current market value of your business.

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Published On: August 3rd, 2016 / Categories: News, Set Insight Blog Post, Trends /

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