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August 2020 in Perspectives

Finding the Perfect Time

By Steve Tenney

Have you thought about when you want to sell your business? If you have and your answer is a personal milestone, such as your 65th birthday or the day you make the final payment for your kid’s college tuition, then you might want to reconsider. The reason? Selling your business requires someone else to buy it—preferably at a decent price. And a potential buyer’s level of interest often has more to do with external factors than it does your personal circumstances. So rather than asking when is the right time to sell, perhaps the better question is this: When is the right time for someone else to buy?