There are two main approaches an entrepreneur can take when it comes time to sell their business – go it alone, or get help.
If you decide to handle the sale yourself, you’ll need to let potential buyers know of your intentions, either by approaching them individually, or trying to advertise the business through the media.
The other option is to call in professional help. Business brokers specialise in buying and selling businesses, and typically concentrate on a certain niche or industry. They will help guide you through the sale process and should be able to introduce the business to a bigger pool of buyers than you may be able to.
Other advisers such as accountants and lawyers may also be able to help you with find a buyer, and will be invaluable in helping to guide you through the sale process.
James was the editor and publisher of SmartCompany and LeadingCompany for five years. He is now the Australian Financial Review‘s companies & markets editor, and a former BRW editor.
