It’s Business, And It’s Personal

How to enter and exit a business in North Carolina

On Behalf of | Oct 6, 2016 | Buying & Selling Businesses |

A successful business may be defined as one that can meet its expenses and provide a return on investment to its owners and shareholders. This return on investment should be enough to earn the continued commitment of those parties. Starting a successful business requires an individual to find an opportunity to solve a problem in the marketplace. This will be done through a quality business plan that allocates enough resources to execute that plan.

For a startup to be successful, either the founder or someone on the team should have experience running small- or medium-sized companies. The founder or founders should also feel connected to the business at all times. This will provide a sense of purpose and passion that can lead to success.

There are many options when it comes to selling the company. The easiest option may be to sell to a partner or someone else within the organization. However, this may result in a lower sale price as well as payments that are stretched out over time. Another option may be to take the company public through an initial public offering, which may require the owner to stay with the company for a set period of time after the IPO occurs.

In many cases, business transactions are complex matters. Therefore, it may be a good idea to consult with an attorney prior to buying or selling a company. The lawyer might be able to review the agreement and make sure that it meets an individual’s needs. Legal counsel may also be useful if there is a dispute related to the agreement before or after it closes.