PARTNER CONTENT
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Preparing for the future sale of your business
Here are eight action steps to help get your business market-ready. business more professional, look for clear lines of separation between personal and business expenses.
1. Get your business documentation in order. Start by making sure all your business operation and process documentation is up to date. Formalize and extend key customer and vendor contracts and confirm that welldocumented processes and procedures are in place.
2. Organize your financial statements. Make sure your financial record keeping and reporting are transparent and easy to evaluate. As you think about making your
3. Develop formal strategic plans. Start with your business’ core competencies. What is your long-term vision? What is your strategy to diversify your customer base? How will you continue to grow and expand?
Have a strategic plan for each key area of your business, such as sales, marketing, operations, technology, finance and legal. Know how your business is valued in your industry and look to boost the key metrics.
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