All sellers want to get the maximum they can get out of their business when they sell. All that hard work that you have put in your business over the years. As the seller, you need to be able to convince the buyer that what you’ve built up is a business that will last. Build your business a resume to decided how well you business will do.
- What you want from your business and what a buyer is prepared to pay may be two very different things and if you want to reconcile the two to reach your best potential price, which means you’re going to have to do some preparation.
- Buyers are likely to want to know exactly what you are selling, including staffing resources so, recognising that you can’t speak for others, you need to have at least some indication of staff attitudes to a sale and to the particular buyer.
- Past performance only gets you so far to demonstrating that a business is a good proposition going forward. As the seller, you need to be able to convince the buyer that what you’ve built up is a business that will last, because ultimately the buyer is paying for future turnover, not past turnover.
“Analyse your client base and when you’re setting your price, take a realistic approach to determining how many of your current customers are likely to stick around once you’ve gone and how many are vulnerable to technological or market changes.”