Deciding whether to sell your business or simply hire a manager and step back is a big decision that hinges on both personal goals and the long-term health of the company. If you’ve built a business you’re proud of but feel overwhelmed by the daily operations, hiring a skilled manager could offer a way to reclaim your time and focus on strategic growth. A manager can bring fresh ideas, help streamline processes, and provide leadership without requiring you to completely walk away. This option allows you to retain ownership and the potential future value of the business while reducing your day-to-day involvement.

Selling a business is a big step, and it can be a stressful and emotional experience for many owners. One of the biggest hurdles is the sheer amount of paperwork involved. From financial statements to tax returns and legal documents, it can quickly become overwhelming. For some business owners, gathering the necessary records or understanding how to present everything to potential buyers can be a real challenge.

When selling a business, addressing buyer objections is an inevitable part of the process. Buyers approach deals cautiously, often raising concerns about financial performance, market conditions, or operational stability. As brokers, we know these objections don’t mean the buyer isn’t interested—they’re opportunities to provide clarity and build trust, but for sellers, sometimes this isn’t always immediately obvious.

Receiving an offer for your business is an exciting milestone, but it’s just the beginning of a process that requires careful thought and strategy. The first step is to take a deep breath and evaluate the offer and the buyer thoroughly. Beyond the price, it’s essential to consider the terms, timing, and contingencies. Is the offer all cash, or does it include seller financing or earnouts? These details can significantly affect your financial outcome and the risk you carry after the sale.

As a business broker, and thus a business owner myself, I can appreciate how investing in brand recognition and advertising can take time. Most recently I decided to advertise in the Triangle Business Journal as part of my strategy to reach a wider audience and strengthen my presence in the market. This experience has reinforced the importance of visibility for any business, particularly in a competitive, fast-growing area like the Triangle.

Small businesses remain a vital and highly regarded part of the U.S. economy. According to Pew Research, 86% of U.S. adults feel small businesses positively impact the country, ranking them higher than even the military or religious institutions. Small businesses are everywhere: they make up 99.9% of U.S. firms, according to the Small Business Administration. Out of 33 million small businesses, only about 6 million have employees, yet they provide nearly half (46%) of private-sector jobs.

Selling a business isn’t something that happens overnight—it requires careful planning and preparation to ensure you get the best possible outcome. As a business broker, I’ve seen firsthand how proactive steps can increase the value of a business and create smoother transactions. Whether you’re ready to sell now or in a few years, here are 6 key actions to set yourself up for success.

Seller financing can be a powerful tool in business transactions, offering benefits for both buyers and sellers, but it also carries certain risks. This arrangement allows the seller to act as the lender, financing part or all of the purchase price. It can be especially useful when traditional financing options are limited or when the buyer lacks immediate access to full capital.

The “Silver Tsunami” refers to the wave of Baby Boomers—those born between 1946 and 1964—reaching retirement age, a demographic shift with significant implications for small businesses. As this generation ages, an estimated 10,000 Baby Boomers retire each day, and many of them own small businesses. In fact, according to the U.S. Census Bureau, nearly 2.34 million businesses in the U.S. are owned by individuals over the age of 55, accounting for 50% of all small businesses.

When purchasing a business that includes commercial real estate, an SBA loan can be an excellent financing option. These loans, typically under the SBA 7(a) or SBA 504 programs, provide favorable terms and lower down payment requirements compared to conventional loans, making them attractive for business buyers.