Taking advantage of time off to make a better 2021 – and a better life.
The holidays provide a great time off to think about “What’s next?”
Despite all the entertaining and gift-giving and get-togethers, most of us have a lot more down time than we think. Time to consider what next year could really look like in terms of your business – and finding out what it might look like to sell it while the market is favorable.
Even better, I find myself and others in a better frame of mind; more positive, more thoughtful, and frankly more grateful. And, if you are a business owner, especially one approaching retirement age, you may be thinking about keeping your business in the year ahead or taking more time for other important things.
On Monday January 4, 2021 – business owners are back in the footrace to build business – frequently too busy to perhaps look at other options.
The Holidays, and the time off they provide, make it a great time to invest a few hours and get the facts about the business-for-sale market. Most of us spend more time than that doing things that are much less important, and when January comes and we get busy – that extra gift of time will be gone.
This Holiday Season provides a more valuable opportunity than most years because:
First, there is a surplus of qualified business buyers out there – literally. They are interested in purchasing businesses right now. It is a seller’s market.
Second, businesses are really selling at a record clip – there is an extraordinary amount of pent-up capital waiting for the right opportunity.
Third, businesses are selling at a premium – COVID 19 has created the backlog of capital and buyers that is driving demand in most industries. You can benefit from this demand!
Get the facts. A business broker can do the homework – which helps you see the options and make better decisions. Right now the market is really much better than anyone could have predicted. A business valuation would be a good thing to have going into the new year.
Another thing to keep in front of you is the fact the best time to sell a good business is when it is still a good business. I know a lot of business owners who decided to ‘keep it going’ for just one more year, thinking either that things would not change and they would continue their success, or that there was a big windfall right around the corner.
I would encourage you to take a little bit of the time you have before New Year’s and take advantage of a business value assessment.
New Year’s is coming and you’ll probably be back in the grind – building your business with your shoulder to the wheel. I hope if you decide to set aside a little time to see what your options might be, that you will get in touch with your broker with some of the extra time you have before New Year’s.
Happy and safe holidays to you.