The short answer: before you need to.
Too often we are approached by Sellers with time constraints creating pressure to sell their company in less than ideal conditions regardless of the prevailing economy. Such pressures could be family, health, burn out or personal financial situation.
Buyers wanting solid companies with discounted pricing look for these circumstances.
Without proper planning, these pressures can creep up and prevent capturing the best value of the company. This is where Exit Strategy planning comes into play.
By having a 3, 5 and 7 year exit strategy, you can focus on the light-at-the-end-of-the-tunnel working toward an end-game. Whether you choose to exercise the plan when the time comes is up to you but by having the plan you might reduce the chances of being caught off guard and forcing you to contemplate unattractive options.
We recommend the same planning for every Buyer looking to purchase a business. We have found that there are times when some business owners without exit planning slip into the category of owning a job. The ideal situation is being in the position of working ON the business rather than working IN the business.
So when is the right time to sell your company? By choice based on a pre-planned strategy while you are working ON the business in the position of strength.
We focus on opportunities possessing these and other key ingredients for both Sellers and Buyers.
Please contact us if you or any of your associates are interested in learning more about these and other strong opportunities we have.