Feb. 1st Speaker Tells How to Increase Business's Value

Today's speaker told us what needs to happen if you expect to sell a business for enough to retire on. The main reason that businesses don't sell is that the owner overprices the business to begin with. Ms. Adrienne Lee told us that first you need to have an expert value your business and then take steps to assure that it is worth what you need to get from selling it. Sometimes this may involve sprucing up the appearance of the business or cleaning up the accounting methods used. She also recommended that the seller continue to be involved in the business after the transfer to the new owner to assure that the business retains as much of its value as possible. This is most likely to happen if the seller finances the deal. We enjoyed her talk and found out some interesting facts about owning and selling a business.