Don’t make the same mistake many business owners do today by trying to sell the company on its way down
What's it like to attempt to sell a business you've sweated years to build? Check out this interview we did with Barrie. He and his partner discovered that it takes far longer than they ever thought possible. Could it have happened faster? Yes, what they discovered at the end of the process they needed to know five years earlier! Listen to his story. If you know of an owner who needs to sell business, please share this and like this page.
If you decided to sell your company, then in order to get the best value you have to prepare for the sale. Another important question is "When to sell a busines?" Timing is very important.
Running a business without an owner is one of the first and foremost tasks. So preparing of business for sale is a long term goal, that require knowledge and experience. Management team, cash flow, recurring revenue, client base, offer of good product or service, all those are success factors for businesses that are built to sell.
If you run the company in person, then there is a big risk for potential buyer of losing the investment when you are are gone as a manager after the sale. So why bother buying such company? Buyer's prospective is not depending on the size of the company and there are two options from that poin:
a) you play by the rules of buyer or
b) you lose.
From a buyer's prospective attractive and successful business looks like well oiled money machine that is able to work on its own, generating enough cash flow to fund its current expenditures, future growth and generating the income to the owner on the go.
We prepared 5 min. express test to show if your business is saleable.
Below we gathered some learning materials to provide you wholistic approach to selling a business:
Business for Sale Advisor Services