How to decide when to sell your online business

How to decide when to sell your online business

When you start working for yourself, you may come to the conclusion that you want to sell your company, and you could come to that for many reasons.  People sell companies all the time, so don't worry if you wanted to sell yours but you aren't exactly sure if it's the right time.  Actually, there is no right or wrong time to sell a business, but there is a time when you'll get the most money in exchange for business transfer.  Obviously, the more money you're making means the more you can sell your business for in the long run.  You'll have to treat everything like you're raising a baby, and you'll be more successful down the road, which will bring in a bigger price tag when you do decide to sell in the future.

Selling a business can be tricky at times, mainly because you're not sure when to sell, which is what I'll be going over in this discussion.  When you're done reading, you'll be able to figure out if it's the right time to sell or if you need to keep working to make even more money when you do eventually think it's the right time to sell


Are you too successful?
Companies that are showing massive growth, in a short amount of time, tend to sell for a pretty penny because there is enormous potential and you've tapped into something that can be very profitable.  If you show your potential buyers the amount of sign ups and sales you've gotten in the beginning, and it shows a constant incline, you will have a lot of people wanting to throw money at you for your business   Of course, you'll have to disclose all your marketing methods, which will show them how you're getting the traffic, and if they think you're not doing everything you could they will then see even more potential and that means more profit

You might be saying "Too successful is a great thing!" but it's not actually.  Think about a one man shop getting 10,000 orders overnight, they wouldn't be able to keep up with all of that and might want to sell their extremely successful business to someone that can handle it.  They'll get paid a great deal for their business, even if it hasn't been around long, because the buyer knows they can boost it and run everything just fine


Are you looking to retire early?
Some people want to sell simply because they want to retire earlier than most people.  The thing about this is that you need to be successful enough to sell for the most amount you can.  If you're 30 and you think a $100,000 price tag for your business will be enough to retire on, you're insane.  Think about it, you'll want to estimate your life will go 100 years and that means you'll want to get as much as you can if you're still young.  Someone that is 60 or 70 selling a business won't really care as much about getting the max price because they really won't be alive to spend it.  If you're younger, you'll be able to spend much more money across your lifetime, so you'll want as much in return for your business as possible.

Think of your business, and estimate that you should make $50 to $100 a day for the rest of your life, and that's how much you should sell for.  If your business isn't making that much already, you won't be able to retire early since no one will pay you the amount you really need to live on.


Do you need money to start a new venture?
Some people will sell a business to start a new one.  They will have a successful business and some interested buyers that are willing to pay a premium, but they won't have enough to start a venture that could make more than their first business, so they will decide to sell their original business to take a chance on the next.

If you're making a decent amount each day, you can usually sell for a premium, and then you can use that money to start your next venture and also not worry about making money right away because you have a bunch of money saved up.  This isn't for everyone, mainly because not many people want to sell something that is already successful and start over, but it might be something you want to do


Are you tired of working online?
Some people simply don't want to work online anymore because they're tired of the daily grind to pull in profits.  I know how they feel, because I've been tired of working many times, but I keep grinding because I'd rather work more and not have to answer to a boss than have someone tell me what to do lol

It's understandable if you get tired, we've all been there and feel defeated once in a while, but if you truly think it's time to sell then no one can tell you otherwise.


In conclusion
If you want to sell your online business, just make sure you can get the most for your money, otherwise you'll regret selling when you figure out the company is making two or three times what you were after you sold it.  You'd be surprised how much proper marketing and branding can boost your sales, so be sure you're coming up on your profits hitting a plateau before you decide to sell early.  If you're already at your peak, and you want to retire, be sure to sell for enough to live off of an potentially pass down if you're already considered a senior citizen.


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Thanks!

Tommy Carey