SHOULD I SELL NOW OR LATER?
To answer this question you need to have a realistic idea of:
What your business is likely to achieve if sold now
And
What you plan to do once you have sold your business and how much money you need to do it.
For example do you need a certain amount of capital to purchase another business, top up your pension, or buy that vintage car/villa in the sun you have been dreaming about?)
Clearly if the likely sale price for disposing of your business will not fund your post-sale plans you may need to think again. In many cases, it may be worth investing more time and money into your existing business over another year or two to increase it's performance and corresponding value.
However, it is important to be both realistic and objective. People are often very emotionally attached to their business and find it extremely hard to admit when it really is the right time to sell. Unfortunately Owners frequently procrastinate in making a decision and end up working for a number of extra years, but end up getting less than they would if they had sold earlier.
