prices to continue throughout 2022 and into 2023 , but don ’ t sit around and wait for the phone to ring . Become educated about the stages of making a deal , talk to your business partners or family members ( if your business is family-owned ) and consider your personal goals .
Most importantly , talk to your trusted advisors .
When you receive an unsolicited offer , find out if it ’ s a good offer in today ’ s environment . You may be caught off guard by the suddenness of the offer , but don ’ t let that discourage you from considering it . Conversely , don ’ t jump in and accept it without doing your due diligence . The value of your business is in the eye of the beholder . A competitor making the offer has a different motivation than a private equity buyer or an ESOP . Valuation is a range and sales price is a negotiated amount . If you decide to move ahead , you ’ ll need to consider several variables to help determine a fair price .