Guest Blog by Carol Gresham, Confidential Business Intermediary
Buying OR Selling a Business is more than just listing your business for sale or searching for a business to purchase.
Today let’s discuss the aspect of simply thinking about selling your business and the steps you should consider in order to obtain the highest value for your business as well as make the process a positive experience for all involved.
As your business grows, the value grows but also the risk factor increases for a higher loss in value and income. A professional experienced business intermediary is trained to help you in the valuation and positioning of your business as you start to think about selling. Conversations will revolve around establishing guidelines for gathering all of the information needed for a new buyer to make a wise decision. An intermediary will help you present your business in the best light possible. They have the tools and software to compile your financial information and they know the questions that will be asked by a prospective Buyer since they work with Buyers and Investors on a regular basis.
What would your business plan be if you decided to continue owning your business 5-10 more years? If you can create a roadmap, a potential buyer can better understand that there is a positive future for your business with potentially increased revenue. As the current owner, you know better than anyone what the obstacles might be and more importantly where the mountaintops are. Your roadmap can help the prospective buyer see the long-term vision.
A conversation with an experienced professional is the key to a successful sale!