Hi Sarah,
There is a lot to be said for good succession planning, for example:
1) work out what you can do to maximise value – increase sales, decrease costs, improve profits,
2) how can you streamline processes
3) how do you reduce reliance on key person risk (i.e. you)
4) put in place good staff
5) make sure the affairs of the company are sorted
6) clean up your accounts – try to “normalise” for non-business expenses (if any) to show true profits
Often getting the business ready for sale can be a 1-2 year process, but that depends on the size of it, complexity etc… and what might need to be done to maximise value.
Happy to chat more on this – email me jonathan.cameron@elevatecp.co.nz