Definitions, Selling a Business
Due diligence is the process where the buyer has an unveiled look at the business you’re selling to investigate it from the inside so that they can make an objective decision about your business, and make a buying decision or not.
Exiting a small business will likely include preparing financial statements for potential buyers as well as obtaining a business or net asset valuation (ExitGuide Pro includes a valuation). If you need a refresher on some of the terminologies or you do not “speak finance” ExitGuide has summarized many key terms below in what we hope is a clear and practical explanation.
Eventually, every owner exits their small business. This means you should have an exit strategy. Learn what is at risk by not having one in place and what to do.
You started a business and you have run a business but, have you ever exited a business? If you are like most small business owners, the answer is “no” which makes perfect sense.
Many small business owners plan to take a “for sale by owner” approach when the time comes to sell...
