{"id":544355,"date":"2021-03-15T19:55:12","date_gmt":"2021-03-15T23:55:12","guid":{"rendered":"https:\/\/mabusinessadvisors.com\/sacramento\/blog\/2021\/03\/15\/the-importance-of-owner-flexibility-when-selling-a-business\/"},"modified":"2021-03-15T19:55:12","modified_gmt":"2021-03-15T23:55:12","slug":"the-importance-of-owner-flexibility-when-selling-a-business","status":"publish","type":"post","link":"https:\/\/mabusinessadvisors.com\/sacramento\/blog\/2021\/03\/15\/the-importance-of-owner-flexibility-when-selling-a-business\/","title":{"rendered":"The Importance of Owner Flexibility When Selling a Business"},"content":{"rendered":"
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You shouldn\u2019t expect to sell your company overnight.\u00a0 For every company that sells quickly, there are a hundred that take many months or even years to sell.\u00a0 Having the correct mindset and understanding of what you must do ahead of time to prepare for the sale of your company will help you avoid a range of headaches and dramatically increase your overall chances of success.<\/span><\/p>\n

First, and arguably most importantly, you must have the right frame of mind.\u00a0 Flexibility is a key attribute for any business owner looking to sell his or her business.\u00a0 There are many variables involved in selling a business, and that means much can go wrong.\u00a0 An inflexible owner can even irritate prospective buyers and inadvertently sabotage what could have otherwise been a workable deal.\u00a0<\/span><\/p>\n

Be Flexible on Price<\/b><\/p>\n

A key part of being flexible is to be ready and willing to accept a lower price. At the end of the day, the marketplace will determine what your business is worth.\u00a0 There are many reasons why business owners may fail to achieve the price they want for their business.\u00a0 These factors range from, older equipment, lack of modern processes, lack of management depth and lack of geographical distribution to an overreliance on a handful of customers or key clients.\u00a0 Of course, one way to address this problem is to work with a Business Broker or M&A Advisor in advance, so that such price issues are minimized or eliminated altogether.<\/span><\/p>\n

Be Prepared to Compromise<\/b><\/p>\n

In the process of selling your business, you may want to achieve confidentiality and sell your business quickly and for the price and terms you want.\u00a0 However, the fact is that most sellers find that it is possible to have confidentiality, speed, and the price and terms you want, but not all three.\u00a0 Ultimately, you\u2019ll have to pick two of the three variables that are most important to you.<\/span><\/p>\n

Be Patient<\/b><\/p>\n

A third way in which business owner flexibility can boost the chances of success is to embrace the virtue of patience.\u00a0 By accepting the fact that businesses can \u201csit on the shelf\u201d for a considerable period of time, you are shifting your expectations.\u00a0 This realization can help reduce your stress level.\u00a0 The fact is that stressed out owners are far more likely to make mistakes.<\/span><\/p>\n

Sometimes Losing is Really Winning<\/b><\/p>\n

A fourth way in which business owners should be flexible is realizing that you and your lawyer will not win every single fight.\u00a0 There will be many points of contention, and a smart dealmaker realizes that it is often better to have a good deal than a perfect deal.\u00a0 Bottom line \u2013 you may have to make sacrifices in order to sell your company.\u00a0\u00a0<\/span><\/p>\n

At the end of the day, a savvy business owner is one that never loses sight of the final goal.\u00a0 Your primary goal is to sell your business.\u00a0 Seeing the situation from the buyer\u2019s perspective will help you make better decisions on how you present your business and interact with prospective buyers.\u00a0 Maintaining a flexible attitude with prospective buyers helps to position you as a reasonable person who wants to make a deal.\u00a0 Goodwill can go a long way when obstacles do arise. Consult with a Business Broker or M&A Advisor for further details.\u00a0<\/span><\/p>\n<\/p><\/div><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"

You shouldn\u2019t expect to sell your company overnight.\u00a0 For every company that sells quickly, there are a hundred that take many months or even years to sell.\u00a0 Having the correct mindset and understanding of what you must do ahead of time to prepare for the sale of your company will help you avoid a range […]<\/p>\n","protected":false},"author":3,"featured_media":544356,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[4,9,96],"tags":[],"class_list":["post-544355","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","category-seller-articles","category-selling-a-business","entry"],"acf":[],"yoast_head":"\nThe Importance of Owner Flexibility When Selling a Business - Sacramento - 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