How to ... Sell your business

Joy Randels is an expert in buying and selling businesses. The Tampa-based serial entrepreneur has successfully bought 17 companies and sold nine. But still, every purchase is unique, she says.

There are a few different approaches to selling: You can gain attention by partnering with a larger company, focus on strategic fundraising, concentrate on retaining top talent, or find a niche audience that another company wants, Randels says.

Partnering allows you to take advantage of a bigger sales force to build your customer base and generate revenue. But it also helps establish your credibility and sets you up for an acquisition, she adds.