006 - Internal v. External Sale - Part 2

Summary In this episode, the hosts discuss the pros and cons of external sales as an exit strategy for business owners. They emphasize the importance of considering all options and having a team of professionals to guide the process. They also highlight the need for long-term planning and preparation for a successful exit.   Chapters 01:31  Missed Opportunities in Considering the Sale of a Business 03:29  Pros of an External Sale 04:50  Cons of an External Sale 07:05  Partial Sale of a Business 10:13  Importance of Planning the Exit Strategy   Takeaways Consider both internal and external sales as options for exiting your business. An external sale can provide market value for your business and allow you to receive all or most of the money upfront. However, there are challenges to consider, such as the potential loss of the business name and key team members. Partial sales of a business can offer flexibility and allow for continued involvement in the business. Episode Links: Sign up for our BusinessBuilder Thursday weekly guide - www.scaletosell.com Get a FREE professional valuation of your business - https://www.scaletosell.com/discovery-form    Follow the podcast so you never miss an episode. Please rate and review the podcast so more entrepreneurs can find this valuable content to scale and exit their businesses.   IG: @scaletosell FB: @scaletosell Youtube: @scaletosell LI: @scaletosell