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some Tips for Selling a good Business

(@Anonymous)
New Member

Selling a business is the most popular exit strategy for business owners. In some cases, there are no successors who want to continue the business; in others, it was always the business owner's plan to convert the business into liquid assets at a certain point. Whatever the reason you want to sell yours, following these tips for selling a business will help ensure that you get the best price and that your business sells.
1) Sell at the right time for the right reasons.

The most common reason for selling a business is that a business owner falls ill or gets too old to continue to run it - the worst time to be selling a business. For one thing, it's going to be extremely difficult for you to deal with the additional stress of selling a business in those circumstances; for another, the buyer will use your circumstances as leverage against you.

So don't wait until then. The right time is when you're still hale and hearty and have a successful business to sell.

And what are the right reasons? Selling a business is very like selling a house in some respects. When you're selling a house, you don't say that you want to sell because the house is too small. You say that you want to move to be closer to work, for instance. When selling a business, you want to sell because you want to pursue a different opportunity or because you're seeking a different lifestyle (such as retirement).
2) Be clear about what you're selling.

Before selling a business, you need to consider what all the assets of a business are and decide what you are selling. Determine what physical assets you are selling and what other assets you have to sell. Selling a business often includes assets such as good will, trademarks or client lists as well as physical assets. The value of these will depend on their quality.

If your business is incorporated, you also need to decide if you are going to sell your business as an asset sale (where you sell everything in the corporation but not the incorporated company itself) or a share sale (where you sell everything including your incorporated company).

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Topic starter Posted : 10/04/2010 5:25 am
(@Anonymous)
New Member

Re: some Tips for Selling a good Business

The most common reason for selling a business is that a business owner falls ill or gets too old to continue to run it - the worst time to be selling a business. For one thing, it's going to be extremely difficult for you to deal with the additional stress of selling a business in those circumstances; for another, the buyer will use your circumstances as leverage against you.

So don't wait until then. The right time is when you're still hale and hearty and have a successful business to sell.

And what are the right reasons? Selling a business is very like selling a house in some respects. When you're selling a house, you don't say that you want to sell because the house is too small. You say that you want to move to be closer to work, for instance. When selling a business, you want to sell because you want to pursue a different opportunity or because you're seeking a different lifestyle (such as retirement).

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Posted : 15/04/2010 2:41 am
(@Anonymous)
New Member

Re: some Tips for Selling a good Business

Thank you for sharing the information. Please keep sharing more and more.

Have a nice day

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Posted : 17/04/2010 6:55 am
(@Anonymous)
New Member

Re: some Tips for Selling a good Business

Hi

To excel in any selling situation, you must have confidence, and confidence comes, first and foremost, from knowledge. You have to know and understand yourself and your goals. You have to recognize and accept your weaknesses as well as your special talents. This requires a kind of personal honesty that not everyone is capable of exercising.

In addition to knowing yourself, you must continue learning about people. Just as with yourself, you must be caring, forgiving and laudatory with others. In any sales effort, you must accept other people as they are, not as you would like for them to be. One of the most common faults of sales people is impatience when the prospective customer is slow to understand or make a decision. The successful salesperson handles these situations the same as he would if he were asking a girl for a date, or even applying for a new job.

Learning your product, making a clear presentation to qualified prospects, and closing more sales will take a lot less time once you know your own capabilities and failings, and understand and care about the prospects you are calling upon.

Thanks

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Posted : 17/04/2010 10:37 am
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