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Owning a business can be a rewarding experience. However, as with many aspects of life, it has its ups and downs. Over the years, you may find yourself in situations that make you wonder whether to consult a small business lawyer about selling your company. Although letting go of what you’ve built is never easy, here are a few signs that planning an exit may be in your best interest.

When to Consider Selling Your Business

1. Decreasing Passion 

For entrepreneurs, launching new businesses and seeing ideas come to fruition is exciting. There are also many benefits that come with being one’s own boss.

Despite this, it’s natural for the initial excitement to wane over time, especially with the mounting pressure and stress of daily responsibilities. If you lack motivation, starting a new pursuit may help you find fulfillment again.

2. No Way Forward

Sometimes, a business owner has taken a company as far as they possibly can. If you find that you’ve exhausted your financial resources or don’t have any more ideas to keep the organization growing, taking your career down a different route might be more lucrative. 

3. Other Opportunities

small business lawyerEntrepreneurs are often presented with fresh opportunities, particularly when they’ve been successful with their existing ventures. This may involve becoming part of a new startup or taking on a role at a bigger organization. In either case, if you see a new opportunity you’re more excited about, you may want to start looking for a buyer for your company and devising an exit strategy.

4. Interesting Offers 

When you run a profitable business, you may get proposals from buyers before you even decide to list the company for sale. Purchasing your company might be the right move for other entrepreneurs who are interested in entering your market or growing their current business. If you receive a good offer, discuss your options with a business acquisition lawyer.

 

If you’re facing any of these situations, reach out to a small business lawyer at The Law Office of W. Randall Holcomb for advice. They’ll guide you through the selling process and help ensure you get the best return on your investment. Many entrepreneurs across Guilford County, NC, rely on this small business lawyer’s extensive legal experience for smooth ownership transitions. Call (336) 888-8760 to schedule a consultation, or visit them online for more information on the business law services they provide. 

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