You’ve been in business for years and have created a company that earns you an income that is steady. But, perhaps it’s time to sell your business. Selling your business is a huge decision that you should not make lightly.

To ensure that you get the most value for your company, it’s vital to have a team of advisors that are knowledgeable in mergers and acquisitions, including tax, legal and financial experts. These experts should also be familiar with your particular industry, because the more niche they are, the better able they will be to help guide you through the selling process.

The first step is to determine much your business is worth by getting a professional valuation. This is usually done by an agent for business or M&A advisory firm. This will assist you to know the worth of your company so that you can create realistic expectations.

Once you’ve figured out how much your business is worth, it’s time to begin planning for the sale. This involves addressing employee issues, concerns regarding intellectual property and legal concerns that may arise. You might also consider a seller financing option. This will allow you to remain active in the business following the sale in a position such as advisor or consultant, and can be beneficial in ensuring that your legacy will continue to run your business. This can also boost the value of your business because a buyer is more willing pay you for the assurance that he will maintain the success of the business.