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5 Signs it’s time to sell your business

So you are at this point where for whatever reason, your business is no longer working for you.

You are contemplating closing down now or waiting it out until it can no longer meet your overhead. These two options will most likely end with you losing money. So, what about selling it?

Plus, selling your business will save you the long and exhausting hustle of looking for capital. Selling will guarantee you capital for your net idea, even if it’s just in part. 

1. The spark is no longer there

Remember that feeling, and motivation you had when you started your business;- the stream of ideas that kept flowing about growing your business. If, by a long shot, that enthusiasm is no longer there, if it is a hustle even just to show up in the morning, it is definitely time to exit. 

2. You are no longer developing your business

Getting cought up in a plateau could easily turn to boredom with you feeling trapped. 

When you are doin more, your are looking for more but nothing is moving forward, it’s time. Another person may have fresh ideas for you “baby”.

3. You are running other ventures that are consuming your time and resources

The saying, “don’t put all your eggs in the same basket”, every entrepreneur understands it;- at one go, they are running an extra side hustle. If this side hustle has shown  new potential and you have decided to put your time and money there. Be realistic with yourself, let go businesses you can no longer manage.

4.  The market has suffered an unfavorable shift

It is expected that market forces will swing regularly. Bad business days are part of the hustle. 

Beware of signals that the market is about to swing so unfavorably that you might not stand a chance to recover. Get a top-deal for your business before the sinking starts.

5. Your business is ripe for sale

Perhaps you didn’t have a plan to sell. But out of no where, you have been approached with a mind-blowing deal. Consider the deal, sell, go catch other fishes.

Related

How you could increase the value of your business to sell.

Is it time to sell your business?

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Jackie.W. Murage

Associate- Corporate Services

As an Associate-Corporate Services, Jackline leads client relations, helping organizations develop strong corporate strategies. She brings relevant experience in the role of helping clients develop and implement corporate goals and objectives, formulate corporate strategies around their capital resources, achieve optimal strategic mix, and sustain a healthy risks-return balance.

Jackline holds a Bachelor’s Degree in Business Management; Finance and Banking from Maasai Mara University

Diana Kiarie

Manager- Accounts and Financial Reporting

Diana serves as the Manager of Accounts and Financial Reporting and holds a Bachelor’s degree in Commerce with a specialization in Accounting from Mount Kenya University. Additionally, she possesses a diploma in Business Management from the University of Nairobi. Currently pursuing CPA
Advanced Level, Diana has over five years of experience in finance, accounting, audit, and taxation for the firm, significantly enhancing strategic financial management activities.

CPA Gitau Nahashon

Senior Managing Partner

CPA Gitau Nahashon is an accomplished finance and accounting professional with over 21 years of experience in the fields of accounting, tax, audit, advisory, corporate governance, and business consultancy. Nahashon is the founding partner of GK Nahashon & Company, a rapidly growing medium-sized audit firm located in Rosslyn, Limuru Road.

He is a member of the Institute of Certified Public Accountants of Kenya (ICPAK), Kenya Institute of Management (KIM), and the Institute of Internal Auditors Kenya Chapter (IIA). CPA Nahashon is a passionate accountant, financial analyst, tax litigant, and advisor as well as corporate finance advisor. All this emerges from his background of Bachelor of Commerce, Finance, and Accounting as well as his professional training as a Certified Public Accountant (CPA-K) coupled with his many years of hands-on experience. He is a licensed practicing auditor and consultant with the Institute of Certified Public Accountants of Kenya. He is an MS Excel enthusiast having trained several high-ranking finance professionals in financial modeling, forecasting, and reporting using sophisticated Excel functions and formulae.

CPA Nahashon is a certified QuickBooks pro advisor, a position he uses to offer support in QuickBooks online as well as advise clients on the usage of QuickBooks for their accounting, payroll, and inventory management. This certification increases the confidence that clients have in our expertise in automated accounting software.

CPA Nahashon is extremely zealous of compliance, he has worked for several employers and private clients shepherding them to remain compliant with the regulations, policies, and guidelines of various regulators. As a risk and compliance professional, CPA Nahashon has brokered many deals and structured compliance highways for many organizations.

CPA Nahashon has enjoyed a thriving career in the private sector where he served in various capacities within the manufacturing, real estate, educational, and banking sectors. His major accomplishments include overseeing effective system migration, automation of MIS, conducting gap analysis for new CBK guidelines, successful acquisition structure, corporate governance training, financial reporting, training advanced MS Excel, successful audit engagements, setting up a successful microfinance company, several successful funding proposals among others.

This professional accountant has held the hands of many start-ups until they are mature with huge turnovers. He has mid-wifed micro enterprises to become medium-sized entities some of them with balance sheet of over Kshs 1B. He has successfully transitioned chamas to birthing enterprises that are current industry and market leaders.

He has served in various boards of academies, schools, SME’s and serves in advisory board of a thriving business in the service industry. He is currently a board chairman in one of the SME’s he serves as an independent director. He is an astute leader with impeccable people leadership skills and serves the community in several leadership positions transforming lives and offering hope to the destitute.