3 Things Only Successful Business Sellers Do

When you spend all day running a business, you are not always aware of how things might look to an outsider considering buying it from you and, if so, how much to pay.

You simply must examine if you are ready to sell the business in a way that allows third parties to bid with confidence and maximise value. Anyone can be lucky. The best business owners make success probable not merely possible, and they often do it more than once.

Over the last 25 years, I have noticed that the sellers who make success feel inevitable do these things well:

1.????? Stare reality in the face. They know precisely why their business is valuable. From a legal perspective, it might be the brand; technology or specialised manufacturing know-how; a unique product protected by patents; the scale of its distribution network. They know why and they make sure their legal assets are protected.

2.????? Not afraid to seek an independent view. They value the skills and extra insights a good advisory team can bring to their team. They like having a proxy for what genuine third parties might think about their business so they can plug any gaps ahead of time.

3.????? Secure the moat before offering it for sale. They have the capacity to think objectively about what would make them pay a strong price for their own business - this allows them to address any weaknesses in their legal rights or obligations before engaging with the buyer universe.

For a copy of my guide: 10 Key Steps to Successfully Sell Your Family Business, please contact me.