Are You Preparing to Sell Your Business?

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Selling a business is one of the most significant transitions a business owner can face. Unfortunately, many approach this milestone without the strategic planning needed to achieve their desired terms and outcomes.  This can present significant risks such as:

  • 75% of business owners report “profound regret” just one year after selling their business
  • 50% of exits are involuntary due to the five Ds (divorce, death, disagreement, disability, distress)
  • Of the businesses that plan their exit, less than 10% achieve desired terms and prices

To help avoid these potential pitfalls, here are some essential tips to help you prepare effectively for the sale of your business:

  • Define Your Objectives: Clarify your goals and vision for the sale.
  • Plan Early: Begin preparing your business in advance to ensure it is market-ready and highly valuable.
  • Envision Life After the Sale: Develop a transition plan for your personal life that reflects your future career and personal goals.
  • Build the Right Team: Engage qualified professionals— such as CPAs, attorneys, financial advisors, and investment bankers—to guide every aspect of the sale.
  • Develop the Right Strategies: Work with your personal financial team to minimize taxes and develop a post-sale wealth management plan and personal life plan.

Often business owners face this challenge alone rather than working with a guide to walk them through the process.  If you’re considering a business sale or transition and don’t have a financial team in place, we can help. Our Exit Planning Optimization® framework aligns your business, financial, and personal goals so you can exit on your terms with clarity and confidence. Our process helps you:

  • Maximize business value and after-tax proceeds
  • Align wealth with your purpose and legacy
  • Design a fulfilling life beyond the transaction

For more information or if you would like to discuss your unique situation, please contact Luke Brooks at lbrooks@bmsswesson.com or call BMSS Wealth Solutions at (205) 982-5555.

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