Business Selling Advice:Talk to Your Family First

Your decision to sell your business will impact your family. Getting business selling advice from them before the business is placed on the market gives them an opportunity to share whatever is on their minds about the possible sale. This can prevent unanticipated issues from coming up in your family during the negotiation phase. It can also prevent you from signing with a business broker and then discovering a family member wishes to buy the business, leaving you with a commission to pay.

Another reason for getting business selling advice from your family is that they may know you better than you know yourself. A surprising number of people change their minds about selling their businesses when the sale is almost finalized. Your family can help you determine if now is really the best time for you to sell and discuss potential feelings and situations that may arise.