Issa Asad Explains How to Exit a Business with Grace

Issa Asad Florida

Starting your own business and watching it grow and succeed can be one of the most rewarding things you can do in your life.

Issa Asad Florida entrepreneur and businessman agrees: “Anyone who has done it will tell you it’s not at all easy, but well worth it in the end.” Mr. Asad is the CEO of Q Link Wireless and Quadrant Holdings, located in South Florida. He is also the author of 4 e-commerce and marketing e-books that can be purchased on Amazon.

Of course, there will come the day where you are to leave the business, whether you are selling it or simply handing the reins over to someone else to run it, be it for retirement or to help it along to the next step, how do you leave the business with grace?

Here, Issa Asad Explains How to Exit a Business with Grace:

1. Business For The Business’ Sake

It’s likely a labour of love, your business. It’s why you started it. You build it up, helping it along the way, you’ve invested so much time, effort, and money to help it succeed, make sure that’s the reason. Don’t just do all of the work because you see your retirement cottage at the end of it. If you simply build it to sell it, you may be missing some very important aspects for its success, like heart. Don’t cut corners. Love the business, it will love you back.

2. Understand What You Have

It might seem like a ridiculous thing to say but it’s actually very easy to be blinded by what’s right in front of you. Not only understanding what the business is and does, but it’s worth in a monetary sense as well and its value to someone else and its place it the larger market of similar business’. Don’t underestimate the worth on the marketplace but also don’t be greedy and lose out on a potentially great deal.

3. Have Top Staff

Nothing will frighten off a potential buyer than a weak management team. Infighting, overly competitive managers, unhappy employees all make for a less than appealing transaction. Keep the top staff happy, keep them informed of coming change and weed out the less productive and unhappy workers. You want to show the company at its best, let the buyer know it is strong and ready to move forward and grow with the new adventure.

4. Timing

The timing of the sale is very important. This can depend on several things. Perhaps you are ready but the market is weak. You need to hang in until the the valued price is there. You also don’t want to jump on the first offer. Don’t appear to be always ready to sell, as it may look as if there are problems within the company. If you are always ready to sell, chances are this is true. Do your homework. Find out who is on the market for such a business, are things in a good place to sell, or do you need to sit still for a while. Be very clear about the why, how and when for the business sale.

Regardless of the business you own, understanding it and the market it’s in is very important. You want to do best by everyone, the business, the team, the buyer, yourself. Be patient, be honest, be informed. It’s your baby.