SELLING A BUSINESS

Start Thinking About Selling Your Business Early

 

If your thinking of selling a business it's probabaly the first time you have ever done it in your life, afterall, you've been running your business probably for many years and this is going to be an entirely different experience. And further, you'll be doing it without experience, and without any training.
Without any professional M&A advisory help it will involve lots of trial and error, frustration, and lots of unhealthy stress. But, there's an easier way. Start planning early, and engage a BBNY Certified Business Intermediary, someone who is experienced and knows the process. You'll need to assemble and analzye a lot of information, and positioning the business for sale is not the same as running it on a day-to-day basis. Armed with all the vital information structued properly, you will be well prepared to sell your business when the it's time.

 

One major asdvantage of planning early is that you'll have ample opportunity to enhance the business and make it more attractive to potential buyers. If packaged well, they will be less inclined to scrutinize and be more prepared to gloss over minor irritants than if your business was in dissaray. Let's face it, selling a business is a stressful experience and is compounded by procrastination and indecision. This is one of life's major challenges and the most significant financial transactions, especially if you are unprepared.

 

By getting a head start you will reduce the stress of the task and be much better prepared to deal with the vagaries of the buyers, who can be very demanding if they detect any weakness. The more understanding and knowledge you have concerning the sale of your business, the greater will be your confidence is securing the right future owner and obtaining your price. Afterall, knowledge is power and that puts you in the drivers seat. In addition, as you show confidence this will also give buyers much greater confidence in their ability to take over management of your business in a seamless fashion.

 

Buyer confidence is essential, as that is who you are attempting to persuade to acquire your business. They need reasons to have confidence in being able to grow the business, and control expenses, and manage your workforce. This enables them to approach investor institutions for needed capital to finance the purchase, with greater confidence. And a solid business plan allows them to communicate their confidence and the reasons for it to lenders and investors.

 

Execution of the planning phase will significantly reduce your stress with selling your business. So, don't do as many business owners do, leave it too late and end up either allowing their busines to run down or at the very least not get full value for all the blood sweat and tears they have expended over the years.

 

So, what's keeping you from starting the planning process?