5 Questions to Consider When Selling Your Business (or Part of It)

You’ve decided to sell your business, or part of it. Maybe you’re ready to move on and try something new. Maybe you’re considering retirement and you want the business you’ve built to provide the income you need to live comfortably. Maybe you’re fully engaged in the business, but you’ve hit a ceiling and need a partner to achieve the growth you’re seeking. When you are ready to engage a partner to work with, we recommend spending time thinking through these 5 questions:

1. What are your personal goals?
   You’ve worked hard to grow your business and you’ve overcome obstacles along the way. Are you ready to take a step back and enjoy the fruits of your labor? Do you want more time to spend with your family? Is there a certain lifestyle you want for you and your family? At Indrio, we work with you to structure a deal that helps you meet your personal goals. Our deals are based on trust; and to gain trust, we focus on building a relationship. Getting to know you and your personal goals is the first step in structuring a partnership that is good for you, the business, and Indrio. A win-win-win.
2. How do you envision your business legacy?
   Are you concerned about what a sale means for your staff? Do you want the business to continue in its current form? Do you want to be known for the size, scale, or footprint your business makes? Thinking about the business legacy you want to leave and the long term goals you have for the business is paramount to striking the right partnership. You’ll want to make sure the buyer will honor your requests and take the appropriate steps to make your vision a reality. It Indrio, we believe in utilizing the capable team you’ve assembled and adding our unique strategies and internal abilities to improve the business, while keeping it true to its roots.
3. Are your financials up to date?
   When entering a deal, a financial review is a common early step. You’ll be surprised at how quick and painless selling your business can be if your financials are prepared and ready to share with the prospective buyer. Forward looking pro forma financials will make it easy for your prospective buyer to analyze the business and structure the right deal. Take time to review your financials and think through the questions you would ask if you were buying or investing in your business.
4. How do you see your involvement moving forward?
   Selling your business doesn’t have to mean walking away. You’ve built relationships with vendors, customers, and team members and you may not be ready to move on. You may decide that you want to take a phased approach to exiting the day to day operations. At Indrio, we meet our partners where they are in their personal and business journey and structure deals that work on their timeline. Your experience is valuable and you can use it to contribute to the future success of the business, and be rewarded for it. There are options, and when you work with Indrio, we help you weigh those options and choose the path that’s right for you.
5. How do you determine the right partner?
   The right partner is the one who cares about you and your business. They are willing to listen to your goals, they have the capabilities to make them a reality, and they will structure a deal unique to your situation. When sitting down to talk about a sale or partnership, make sure there’s a core values and personality fit. A business partnership is a relationship. It’s built on trust, communication, and working together to achieve common goals. At Indrio, that’s what we are all about; building long term relationships that result in successful business ventures.

If you’d like to learn more about working with Indrio to sell or grow your business, please reach out. We’d love to discuss your goals and your vision for your business. Then, if it’s the right fit, we’ll work with you to structure a partnership to achieve your goals and make your vision a reality.