Questions to ask yourself before selling: Am I willing to stay onboard?
Here at MergerTech Advisors, our M&A advisors spend a lot of time talking with entrepreneurs and founders of startup companies that are thinking about selling their company. While many times it is because these individuals have a new idea and want to invest their time into this fresh project, in some cases, it is just because they are burnt out in their current situation. In this scenario, they recognize that they may not be helping the company to the best of their ability because they just aren't as passionate or motivated as they were at the start.
When it comes to making a fiscally responsible decision for yourself and your company, ensuring that you have answered all the questions that come with making the choice to sell is key. In many cases, it is not just a business move, but also involves emotions about the time and energy you have already invested.
One of the key questions you need to answer is whether you would be willing to stay on staff if the buyer wanted you to. According to Entrepreneur, "Sometimes you can seal a deal by agreeing to stay on in a consulting role for a period of six months. But first, you need to determine whether it's really worth it to you."
Being willing to stay on, you could increase the value of the company and reduce the risk to the buyer until they get a better grasp on the operation.
While this question may seem like it matters more to you than to the company, knowing how invested you are willing to be in the future of the company will help you choose the path that is right for you, as well as do what's best for your business.