Why did you start your business in the first place? Is it because you wanted to find a quick road to become rich? Or perhaps you are really passionate about the industry and have a lot to offer?

If you are there because of the money then I have some bad news. Although you may earn a couple of dollars there, it may be a difficult path ahead. When rough times come, it is often hard to find the motivation to keep going.

Before deciding to sell your business it is important to consider the following. First and foremost, you need to clearly understand why you don’t want to run the business anymore. If the reasons are objective, you need to know how much your business worth. To determine the value, you need to choose one of the methods of business valuation. Eventually, you need to think about what you are going to do after the company is sold.

In this article, we will cover signs that tell it is time to sell your company.

Burnout

Entrepreneurship is often not as fascinating as it seems. Almost no one talks about the stress behind it and all those sleepless nights you were trying to figure out how to solve current problems. The time may come when you just start feeling burned out and can’t find any happiness having this career. In this case, letting this business go and finding another dream to pursue seems like a perfect decision. 

Life Circumstances

Being responsible for the whole company requires time. This leads to a lot of sacrifices. You spend less time with your family, neglect hobbies you once enjoyed and don’t remember when was the last time you’ve been on vacation. Feeling overwhelmed with work means you focus less on other things. Perhaps you’ve finally satisfied with the success and decide to enjoy other aspects of life.

Thinking about Retirement

Some reasons don’t have anything with work, but with you. Ever since you turned 60 you have been thinking of retirement. Several reasons are in favor of selling the company before retiring. Maybe the most obvious one is getting enough money to fund the years ahead. When you become a person free of the responsibilities, there is a whole world waiting to be discovered. Leave all the stress behind and enjoy life at its fullest.

You’ve Got a Good Offer

If you have built a stable and profitable company its value probably increased over the years. With business valuation methods you can precisely determine the exact value. Some entrepreneurs might have noticed your company’s success and would like to purchase it. It is easier to buy an already-developed business than starting one from scratch and to buy shares of the competence than fight with it. Thus you shouldn’t be surprised if you get a good offer. Consider it carefully and compare it to the results of the business valuation to see how realistic the offer is.

New Opportunities

Did you prove as a successful entrepreneur in one field? Why not switch to another? If an opportunity for investing in another area comes in, consider it carefully. Maybe this is the change you’ve been waiting for and it’s time to sell your current business.

You Are Not Creative as You Used to Be

It is difficult to admit to yourself that you are not the right person to lead the company anymore. The company you founded has grown so much that you have started to struggle with managing everything. Your business may come to the point where it needs a new person in charge, someone who will have fresh ideas and continue with improving the business. If you feel you are losing strings, that it’s time to consider to sell your company.