You started it with nothing more than a great idea and a lot of enthusiasm, but now you’re thinking about selling your business. Not easy. Selling the business you’ve worked so hard to make a success is one of the most emotional and difficult decisions you will have to make, so make sure you are ready to make it.
There are a few things to watch out for when thinking about selling your business. First-time sellers in particular should be wary of making these common mistakes:
Waiting Too Long
Any business advisor will tell you that the time to start planning to sell your business is the day you open your doors for the first time! The time to sell is when the market’s right, and when your business is doing well. Being unsure about whether or not this is the right thing could mean you will wait too long and miss your ideal window of opportunity.
Not Using a Business Advisor or Broker
A business broker makes it his business to Sell Business! Austin has several business brokers, and finding the right one is crucial if you want to sell for the best possible price in the shortest amount of time. Business brokers have access to greater numbers of potential buyers than you could reach independently, and will use their vast knowledge, experience and expertise to get you the best deal.
Not Marketing Your Business Properly
While your advisor or broker will do a huge amount of work to attract buyers for your business, no one knows your company better, is more passionate about it, or can create more hype and excitement around it than you. You’ve sold products or services, now it’s time to sell business!
Under- or Over-Valuing Your Business
This is another area where a top-notch business advisor can help you. It is crucial to set a realistic selling price for your business. Price tags that are too high won’t attract any interest, but set the price too low, and people will wonder what’s wrong, or you’ll be doing yourself out of some hard-earned profit. Do your homework – check out the market and listen to your broker.
Sunbelt Business Advisors and Houston Business Brokers is the largest business brokerage organization in the world. If you want to buy or sell business, we can help. Go to website for more information.
