Seller Articles
How to Get Ready to Sell Your Business
The Psychology of Selling Your Business – Are You Sure You’re Ready?
How to Optimize Your Chances of Selling Your Business
The simple fact is that selling your business is likely to be the single most important financial decision you’ll ever make. With this important fact in mind, it is essential that you prepare far in advance. Let’s dive in and take a look at some of the key items you’ll want to check off your list before placing your business on the market. Think About Legalities When it comes to selling a business, legal issues should be at the forefront of your thoughts; after all, selling your business does involve the creation and execution of a complex and detailed legal agreement. There are many times in life where it is possible to cut corners, but hiring a good lawyer or law firm is not one of those times. Moreover, you’ll want to settle all litigation, environmental issues or other issues that could potentially derail a sale. Deal with Serious Buyers Working with a experienced Business Broker or M&A Advisor is an essential part of the selling process, as these professionals … [Read more...]
The Importance Of A Confidentiality Agreement When Selling a Business
When it comes to buying or selling a business, there is no replacement for a solid confidentiality agreement. One of the key ways that Business Brokers / M&A Advisors are able to help buyers and sellers alike is through their extensive knowledge of confidentiality agreements and how best to implement them. In this article, we will provide you with an overview of what you should expect out of your confidentiality agreements. A confidentiality agreement is a legal agreement that essentially forbids both buyers and sellers, as well as related parties such as agents, from disclosing information regarding the transition. It is a best practice to have a confidentiality agreement in place before discussing the business in any way and especially before divulging key information on the operation of the business or trade secrets. While a confidentiality agreement can be used to keep the fact that a business is for sale private, that is only a small aspect of what modern confidentiality … [Read more...]
Four Common Seller Mistakes When Selling a Business
Sellers of businesses are just like everyone else in that they can make mistakes. In this article, we’ll explore some of the most common mistakes that we see along with some of the repercussions. 1. Not Seeing the Buyer’s Point of View The first major mistake that sellers make is that they simply fail to look at the situation from the buyer’s perspective. One of the smartest moves any seller can make is to step back and ask themselves two key questions. “What information would I expect to see if I was thinking about buying this business? “Would I trust the information being presented to me if I was the buyer?” While there are many other questions sellers can ask to help reframe their thinking, these two simple questions can orient a seller’s thinking towards a buyer’s perspective. Additionally, investing the time to understand the buyer’s position can help avoid a range of problems and help smooth out the negotiation process. It is also important to understand … [Read more...]
