Selling Your Business: CEO Elizabeth Hale Shares Questions to Ask Before a Sale for Phoenix Business Journal
March 31, 2023
Selling a business is a common exit strategy for entrepreneurs ready for the next big thing. But many are not prepared for the intense emotional and financial toll doing so can have. In a recent article for the Phoenix Business Journal’s AZ Inno, eeCPA CEO Elizabeth Hale breaks down five key questions business founders should ask themselves as they consider whether to sell their companies.
It’s important for entrepreneurs to ask questions including whether their business is ready to sell and what professionals they might need to bring in to help. But the most critical questions involve some deep self-reflection focused on why the founder wants to sell and what they want to do afterward.
After spending years of blood, sweat, tears, energy, resources and money to build a business, the sale process can prove intimidating and emotionally gut-wrenching for many entrepreneurs. Taking time on the front end to explore and determine the reason behind wanting to sell will give founders a guidepost to hold onto when the process becomes challenging. Equally important is determining the endgame and what you want to do after the sale. Knowing what’s on the other side also will help founders navigate the often-grueling sale process.
Are you ready to explore a business sale? The accounting and consulting experts at eeCPA can help you navigate the complex and nuanced process to ensure a successful transaction that achieves your goals.