[{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/www.amorusolaw.com\/blog\/prep-your-business-sale-with-these-10-tips-white-plains-ny\/#BlogPosting","mainEntityOfPage":"https:\/\/www.amorusolaw.com\/blog\/prep-your-business-sale-with-these-10-tips-white-plains-ny\/","headline":"Prep Your Business Sale With These 10 Tips","name":"Prep Your Business Sale With These 10 Tips","description":"An estimated 70% of businesses don\u2019t have a family member capable or willing to assume responsibility. What are you doing to plan for the sale? A certain reality will eventually set in when it comes to the future of your business. And that reality is that some day you are not going to be there […]","datePublished":"2013-12-04","dateModified":"2023-08-12","author":{"@type":"Person","@id":"https:\/\/www.amorusolaw.com\/blog\/author\/amorusolaw\/#Person","name":"Amoruso & Amoruso LLP","url":"https:\/\/www.amorusolaw.com\/blog\/author\/amorusolaw\/","identifier":5,"image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/12de032c04195e9c39a06a6d6eea182f7b4fa655c20e245f8094a244b5cdd0cb?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/12de032c04195e9c39a06a6d6eea182f7b4fa655c20e245f8094a244b5cdd0cb?s=96&d=mm&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Amoruso & Amoruso LLP","logo":{"@type":"ImageObject","@id":"https:\/\/www.amorusolaw.com\/wp-content\/uploads\/2023\/07\/amoruso-logo.svg","url":"https:\/\/www.amorusolaw.com\/wp-content\/uploads\/2023\/07\/amoruso-logo.svg","width":0,"height":0}},"image":{"@type":"ImageObject","@id":"https:\/\/www.amorusolaw.com\/wp-content\/uploads\/2023\/04\/6a01901dd0a082970b01a51016b57d.jpg","url":"https:\/\/www.amorusolaw.com\/wp-content\/uploads\/2023\/04\/6a01901dd0a082970b01a51016b57d.jpg","height":750,"width":1050},"url":"https:\/\/www.amorusolaw.com\/blog\/prep-your-business-sale-with-these-10-tips-white-plains-ny\/","about":["Family Business","Small Business"],"wordCount":308,"keywords":["Business Sale","Family Business","Small Business"],"articleBody":"An estimated 70% of businesses don\u2019t have a family member capable or willing to assume responsibility. What are you doing to plan for the sale?A certain reality will eventually set in when it comes to the future of your business. And that reality is that some day you are not going to be there to run it. It is just a matter of time, and there may simply be no family member there to step up to the task, which is something even further from your control. For many a business, and for the betterment of the family, this means a sale. So what are you doing to prepare the business for sale?It is, indeed, a hard math, and not something that comes easy to most of us. Nor does selling the business you worked so hard to create. Nevertheless, when so much of the family wealth is locked into the business, be sure to consider proven, practical tips for preparing it for a sale.To get you started, consider a recent Forbes article titled \u201c10 Simple Tips To Make Your Business Acquirable.\u201dThe problem shared by most sales is that a business is only valuable if it is \u201cacquirable.\u201d\u00a0 The 10 tips largely speak for themselves, but you will want to read the description of each in the original article.Here they are:Check Your EgoBe Irrelevant [aka, do not personally be the \u201cvalue\u201d to the business]Become KnownDevelop Great SystemsClean Up the FinancialsMake a ProfitDevelop Reasonable ExpectationsFocus on ContinuityBe TransparentMaintain PerspectiveRemember: selling the business is crucial to your own retirement and the future of your family. Approach the process realistically and early.Reference: Forbes (November 13, 2013) \u201c10 Simple Tips To Make Your Business Acquirable\u201dFor more information on asset preservation and estate planning, please visit my estate planning website."},{"@context":"https:\/\/schema.org\/","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"Blog","item":"https:\/\/www.amorusolaw.com\/blog\/#breadcrumbitem"},{"@type":"ListItem","position":2,"name":"Prep Your Business Sale With These 10 Tips","item":"https:\/\/www.amorusolaw.com\/blog\/prep-your-business-sale-with-these-10-tips-white-plains-ny\/#breadcrumbitem"}]}]