7 Mistakes to Avoid Before Selling Your Business.

1. Procrastination; waiting to sell until you are...
- "Burned out" 
- Seriously ill or disabled
- Deceased
- Need Capital
- Unwilling to "give up" on diminishing asset or deteriorating business

2. Poor Contracts Library (lost files and unsigned contracts)

3. Little or No Intellectual Property or Trade Secrets Protection
- Nondisclosure Agreements - with employees and vendors 
- Noncompetition Agreements
- Authorship Agreements ("Work for Hire")
- Copyright Protection

4. No Business Retention Strategies for... 
- Key Employees 
- Key Business Relationships 

5. Poor Financial Records; inconsistent or late filings 

6. "For Today" Tax Planning... 
- Use of C Corporation 
- Holding unrelated businesses in a single entity

7. Failure to continue to update/upgrade the business
 
If you would like to discuss preparing your business for sale or transition to next-generation owners, or to gain a general understanding of the sale process, please feel free to contact the office at (316) 684-2929 and ask for Michael Biggs, Tyler Paul, Ryan Rising, or Sean Durr.