3Have a team on your side
Although you might want to oversee your sale process by yourself, it might make your whole business go south if neglected during that time. Be aware of that and get a team of trusty people who will sell your company for you, while you are busy keeping it operational and profitable. If you, by any chance, achieve the level where your business practically runs itself, then you might have enough time and energy to sell it and lead it all by yourself.
4Do not make yourself indispensable to your company
That’s the case with those companies that got their names after the name and surname of the founder. If you are the only one who knows the whole story about your company, the financial details, the passwords, the donators, well, everything, that will make your company unattractive for future purchase, since it can demand a lot of effort to re-arrange those responsibilities amongst the new owners and management. So, have faith in your management team, and be sure to let them work for their new boss, that can boost your price significantly.
5Respect is everything
Even if your company’s accounting numbers add up, and your business seems profitable, you have to be aware that, in the end, deals are made between two people, and people tend to buy according to their feel. So if you don’t act well, you can lower your chances of selling significantly, which means that you should arrive on time, dress well, and behave well at all times.
I hope this will help you if you came to that awkward place of wanting to sell your business. Be careful, have your friends close, and look sharp. That’s the whole story, in a nutshell.
This post is written with help of www.signarama.com.au sales department.
Images credits:
123RF Stock Photo
seniorliving:teegardin
flickr:matthetube
flickr:smithhe
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