If your small business is successful, then chances are you have poured most of your time, energy and spare money into it - for what may have seemed like forever.

A small business is not just about ownership. It may have become your life . . . an extension of yourself.

Can you really imagine life without it?

- Is your family dependent on your small business?
- Do you discuss it around the dinner table?
- Is your small business an education and training ground for your children... a way for them to gain some working experience and earn some pocket money?
- Could it be that your small business is like a member of your family?

On the other hand, is your small business a ball and chain around your neck which you can't wait to get rid of? Or, when you first took ownership, did you only intend to stay a short time and things sort of never turned out that way?

Whatever your situation, selling a small business will be one of the most important things you'll ever do. It's very important that both you (and your family), and your small business are ready to make the change. And it could be a big one!

For starters, you must be prepared to hand over the reins of ownership and management to someone else. You must accept that they might do things to your small business that you would never have dreamt of doing. They may replace all your staff, they may completely change the marketing focus.

The new owners may even grow your small business to the great heights you always hoped for but never quite achieved. On the other hand, they may destroy everything you've built up.

I saw it happen recently. A friend successfully sold a very profitable small business, only to watch it disappear "off the face of the earth", a short time later. This can be very disheartening especially when the new owners won't listen to your experienced advice.

With careful preparation you can alleviate much of the stress that comes with selling a small business. After all, it will probably be, the biggest sale you'll ever make! And… you'll only get one chance at it. There's only one opportunity to put on a price tag that represents your years of toil.

Do it once - Do it Right, because once you've signed the sale documents, it's all over! You no longer have ownership and control. It's history!

Noel Peebles is author of the best selling business ebook "Sell Your Business The Easy Way"

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