- Contact your accountant and your lawyer, and if you don’t have an accountant or a lawyer, get one.
- If you own your own building, make sure that the rent that you’re paying yourself is commensurate with current market rates.
- Get your fiscal ducks in a row. Lending institutions and potential buyers will require three years’ financials.
- If you haven’t already done so, write a company history, including significant events, equipment purchases, new marketing and sales tools, sales upturns and downturns and their causes.
- Make sure your assets list is current and includes dates acquired and serial numbers.
- Make sure that your discretionary income is traceable.
- If you don’t pay yourself a salary now, consider starting to do so.
- Put together a package of all contracts, leases, service agreements, commitments to employees, customers, or vendors.
- Have your business valued. If you don’t, you might be unpleasantly surprised with its market worth. Periodic appraisals – whether selling or not – are a good idea.
- Don’t try to sell your business yourself. Call The Quincy Group instead. Your first hour of consultation is free.