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Note: Sam Willis provides today’s guest Blog, ‘6 Steps To Sell Your Business For Maximum Value.’
Sam Willis
Sam Willis is a business and finance writer that focuses on helping small business owners increase the value of their business. He specializes in topics related to business valuation, business management, and business acquisitions.
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Attract the Right Job Or Clientele:
6 Steps To Sell Your Business For Maximum Value
Every business owner’s life will experience a time when you must make the difficult decision to move on from your brainchild.
Because the business is a sum of your vision, daring, creativity, and work ethic, letting go can feel like losing a part of yourself. As a result, many sellers have a very biased outlook on how to value a business.
Although it sounds harsh, buyers won’t care about your blood, sweat, and tears when it comes time to sign on the dotted line. They aren’t interested in the feel-good stories, how your business teetered on edge before pulling through.
They are interested in your business’s ability to generate profit and its prospects for growing that profit over time.
As a result, placing an unrealistically high price tag on your business can cause it to sit on the market well past the average 9-month listing period, sometimes stretching past two years–or not selling at all.
On the other hand, you don’t want to rush the sale of your business and accept an offer for less than it is worth. The whole point of going into business in the first place is to create value. So if you aren’t able to capture the value you have made at sale time, then you seriously need to consider whether or not it is the right time to sell.
There is a lot to balance when selling your business. It is a delicate line between pricing it out of the market and achieving maximum value. It is good to consider business appraisal cost as one of the most important line items on your business-selling expense sheet. However, if you need a comprehensive breakdown of how to achieve maximum value for your business today, consider the 6 steps to selling your business provided by Raincatcher in this comprehensive infographic.
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Sales Tips: 6 Steps To Sell Your Business For Maximum Value
- To sell your business for maximum value requires upfront review and possible revision.
- Examine all business areas to prioritize that need improvement before entering the marketplace.
- Admit whether your procedures are up to date or if you need to incorporate new technology for monitoring and efficiencies.
- Ask loyal clientele for feedback regarding the aspects of the business they would like to see improvement.
- If you have employees, inquire how they see improvement for growth.
- Prioritize all the ideas you hear and witness to put into place to sell your business for maximum value potentially.
- Research ahead of time businesses in your industry for sale, their pricing, and how you may compare.
- Realize how your business stands out from the others for sale to determine a fair sale price.
- Communicate the value the business provides clientele and encourages their loyalty.
- Celebrate Success!
Today’s insights are provided to help you achieve the Smooth Sale!
RESOURCES FOR PERSONAL AND BUSINESS GROWTH:
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