Perhaps you’ve arrived at a point with your current business where by you feel its time to move on. After years cultivating it you’d like to set a course in a new direction.
Perhaps you would like to still own part of the business. perhaps you would like to sell it entirely. Either way the things to look out for in a business co-owner or buyer are similar.
Are they the kind of person who wants to work in the business? You are selling the business not to an entrepreneur, but to a buyer. This means they are not creating anything, they are buying something that needs to be maintained and that already has established functions that need to be adhered to. Does the buyer seem like the kind of person who can cater to these essential business needs?
Much like buying a great car. Buying a business that is already making headway probably doesn’t need massive tune ups or extensions put on it immediately. Even with the best intention, changing something that may seem even minor, may disrupt the balance you’ve worked hard to maintain within your business.
If it ain’t broke, don’t fix it.