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Initial Issues in Selling Out

Before you actually begin the process of selling your business, there are a number of issues you should consider:

  • Defining your priorities: what aspects of the sale are the most important to you?
  • Timing your decision: what's the best time to sell your business, and how long will it take?
  • Choosing professionals: what kind of professional help will you need, and how will you find it?
  • Legal/ethical considerations: does your position as a partner, shareholder, officer, or director of the business affect your ability to sell out? How careful must you be in describing your business and disclosing problems to potential purchasers?