|
Certainly canadian government business grants information is
important to helping you succeed in your business. Here are some
resources to help you along the way:
5 Keys to Selling Your Business for What It's Worth
By David Bryant
How to market and sell your with success!
By David Bryant
Sound Business Brokers
© Copyright 2005
YOU OWE IT TO YOURSELF TO DO THIS RIGHT!!!
As a owner you have made a substantial investment of your time, talents, money and who knows what else, to feed it, nurture it, build it and grow it. And now has come the time, that for whatever reason, you want to sell it to an interested buyer for a fair and reasonable price – and for the best price that it can sell for. This is your baby. It’s where you’ve spent so much of your energy and effort so it behooves you to take great care in how you go about selling it to another interested owner!
How you go about selling this investment of your life will greatly impact the quality, experience and return of this investment. So it makes great sense to do what it takes to do this right!
Here are 5 important keys to selling your for what it’s truly worth! And you deserve no less!
KEY #1:
THE IMPORTANCE OF ACCURATE BUSINESS VALUATION…
Many owners would like to take charge of this process completely themselves without any input from others as to its value and worth in the current marketplace. This go it alone method does work sometimes, however, the odds of the owner getting the best price from the fairly limited pool of buyers that he or she is exposed to is very slim indeed. In many cases, owners who decide to sell the on their own can make valuation errors – either over-pricing or under-pricing their business. And as a result can either become frustrated when it doesn’t sell or wonder why the sold so quickly as a result from it being under-valued.
These valuation errors can be avoided most of the time by having an independent third party take the time and provide the expertise to help you accurately determine the appropriate value of your business. If your is in to valuate other businesses then this may not be necessary – as it is your to do so. However, if your is in the of repairing vehicles, then it makes good sense to have a third party valuate your vehicle repair while your repairs vehicles.
If you look back at all the time, energy, money you’ve invested in your business, it should be no big surprise that you want to have the most accurate valuation possible. As has been your modus operandi in business, you want your feet firmly planted in reality. A third party valuation can provide this to you.
KEY #2:
THE IMPORTANCE OF CONFIDENTIALITY…
There are many reasons why you would want to sell your quietly and confidentially while maximizing its exposure to as many buyers as possible. Here are a few reasons why this is so important.
First, existing customers may think there is something wrong with your if they hear that you are selling, even though, there very may well be nothing wrong with your at all. Knowledge of its impending sale may just drive them to your competition which will result in a negative impact on its value from a sales revenue standpoint.
Second, existing employees may think that their jobs are at risk and pose a risk and either leave or do less as morale is impacted. Knowing that the is up for sale could negatively impact the stability of your
8 Ways to Keep Your Business Afloat in a Bad Economy
Being a Well-Loved Boss
How to Inspire Employees through Recognition
7 Reasons Great Companies Rise To The Top, Even During Recessions
employee base which would also negatively impact sales revenue and the ultimate value of your business.
Third, by having a third party confidentially present our to others, you can avoid these negative impacts and maintain the integrity of value that your deserves.
KEY #3:
THE IMPORTANCE OF FOCUSING ON YOUR OWN SPECIAL TALENTS…
A mechanic repair shop’s special talent is the ability to diagnose a problem, determine the solution and take action to fix the problem. The repair shop’s special talent is not finding out what the most accurate value of the is, and selling to a potential buyer. It could be done, but what will the quality of this transaction be like? Would that owner get the maximum amount that he or she can for the business? Will taking time away from the special talent of vehicle repair to determine value and find a willing buyer, eventually hurt or negatively impact the day to day ongoing operation and growth of the business?
These questions must be asked of any owner who is about to embark on the process of valuation and sale. By finding a third party whose specialty is valuation, marketing and sales, a owner can focus on the special talent – and truly maximize the return on that investment.
KEY #4:
THE IMPORTANCE OF VALUABLE MARKETING METHODS IN SELLING YOUR BUSINESS…
As a owner looking to sell, there are many ways to let potential buyers you intend to sell. However, most of these ways are not confidential enough or powerful enough to generate the maximum number of interested buyers possible. The newspaper may work, but does it reach the intended buyers and is it as wide-spread as possible?
Asking a third party to help market your is one way to ensure that your will be exposed to as many buyers as possible. While you focus on your core competencies a third party sales specialist can actively promote your confidentially by using media ads, Internet websites, yellow pages, other organizations. This gives you the advantage of finding the best possible buyer and the best selling price as well. Exposure to the marketplace confidentially is a major key.
KEY #5:
THE IMPORTANCE OF SUCCESSION…
Have you ever thought who will take over your on short notice? Have you ever wondered where you will find the ideal buyer who will want to take ownership of your precious investment?
This last key is important because it will give you peace of mind. Peace of mind that your faithful customers will be taken care of. Peace of mind that your long time employee relationships will be preserved. The importance here is more of an intangible benefit to your own sense of duty and doing what’s right.
In conclusion, much thought and care must go into the sale and succession of your if you are going to maximize the return on this investment and leave with the peace of mind that you did your best to maximize its potential. Below are some helpful resources that may be fruitful in assisting you in this important endeavor.
To your success!
David Bryant
Sound Business Brokers
Your source for expertise in either buying or selling a business.
BUSINESS RESOURCES:
Association of Washington Business www.awb.org
Thurston County Business Resource Center www.thurstonedc.com
Sound Business Brokers www.bizlister.com
Better Business Bureau www.bbb.org
Chamber of Commerce www.thurstonchamber.com
Dunn & Bradstreet www.smallbusiness.dnb.com
Hoovers www.hoovers.com
Laser Monks Office Supply www.lasermonks.com
iBill Business Billing Technology www.ibill.com
ExtendaBiz Business Growth Tactics www.extendabiz.com
Woopidoo! Business Success & Finance Tips www.woopidoo.com
ExactTarget Email Marketing Solutions www.exacttarget.com
SCORE (Service Corps of Retired Executives) www.score.org
SBA (Small Business Administration) www.sba.org
National Business Association www.nationalbusiness.org
National Federation of Independent Businesses www.nfib.com
For further resources please call Sound Business Brokers for contact information. Note: Sound Business Brokers is not liable or responsible for the actions or outcomes that occur from the providers and resources provided above.
Sound Business Brokers assist business buyers find a business and business sellers sell a business in Washington State.
www.soundbusinessbrokers.com
|
|
We hope you found this canadian government business grants information to be helpful.
- Life Settlement - the next subprime meltdown?
Summary of three drivers for the Life Settlement Business and implications for consumers, insurance firms and life settlement agents
- Cost Effective Life Settlement leads-new program for life settlement agents in beta March 08
New program for life settlement leads and inquiry is in beta on this site. Fixed cost ads with no commission share is the current model, pricing is in beta.
- November 2007 Benefit Network Report
ADD FREE REAL ESTATE BENEFIT TO INCREASE BENEFITS VALUE, WHAT DOES YOUR DOCTOR AND YOUR BLOG HAVE IN COMMON?, DON"T FIRE THEM -FIRE THEM UP!, RECOGNITION-REWARDS ONLY PART OF THE RECIPE - July 2007 Benefit Network Report
Special Section: Dental Insurance, the new IT benefit. Research continues to support the links between dental health and serious health conditions.
- November 2007 Benefit Network Report
ADD FREE REAL ESTATE BENEFIT TO INCREASE BENEFITS VALUE, WHAT DOES YOUR DOCTOR AND YOUR BLOG HAVE IN COMMON?,DON"T FIRE THEM -FIRE THEM UP!,RECOGNITION-REWARDS ONLY PART OF THE RECIPE - July 2007 Benefit Network Report
Changing Face of Health Care Incentive Programs, Saving on Pharmacy Programs, Self-Administered Health Care
|
