I sold my first business as a mom last month. I know I promised details but the two weeks it took to go from “Mine” to “Theirs” were hard as hell challenging.
This is what you need to know if you’re planning on selling your business. I wish I’d known this in hindsight!
- Be clear on what is included with the sale: Photos, articles, business email archive; what is the new owner entitled to?
- Decide pre-sale how much time you are willing to spend with the new owner to get them acclimated. Put it in the contract.
- Make sure you know where all of your business documents are! That business license is going to need to come out of the filing cabinet!
Selling a business is an emotional process for most entrepreneurs. Make the process less difficult by being prepared.
Another hard part of selling your business is seeing the new owner do things a little differently from how you did. The solution to this? Get over it! It’s not your baby anymore.
What’s next on my agenda? I founded NACEM- the North American Council of Entrepreneur Moms last month. It’s important for moms to be advocates, no one knows our issues better than we do.
By Bunmi on 11/6/07 in Uncategorized, Parentrepreneur, Columns, Mommy's Company
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