The decision to sell your business is a daunting one. There are a number of financial, intellectual, and emotional considerations to be made along this journey to maximize the outcome you seek.
Assuming you intend to stick around for a period of time post transaction, understanding a key aspect of this decision will significantly increase the chances of you having a positive experience. The decision to sell is largely an autonomy trade. You want something from the partnership, the “stuff”, the exchange amongst other things is losing a degree of autonomy. Today you call all the shots. As a part of a new team, you won’t call all the shots. You just need a clear understanding of what shots you will still be permitted to call, and determine if you are comfortable with that.
