When a business owner can find the right buyer, life is much easier. Selling or buying a business can be very stressful. Getting the right support can eliminate much of that stress.
The Concept of the “Right Buyer”
A recent article in Inc., entitled, “How to Find The Right Buyer For Your Business and Avoid Negative Consequences”, Bob House builds his article around a simple, straightforward, but powerful, concept. House’s notion is, “the right buyer is worth more than a big check.”
House points out that far too many sellers become fixated on exiting their business and grabbing a big payday. By focusing on the sum they will receive, these sellers ignore a range of other important details. Sellers often miss the greatest variable in the entire process: finding the most qualified buyer. The simple fact is that if sellers want to reduce their long-term stress, then there is no replacement for finding the most qualified buyer.
Plan In Advance
House points out, it is only prudent to determine what you want out of a buyer well before you put your business up for sale. For example, if you don’t want to offer financing, then that is a decision you need to make well before you begin the process.
House also places considerable interest on pre-screening potential buyers. Pre-screening is a good reason to work with an experienced business broker who can assist with the process. As a business owner your time is precious, therefore, you don’t window shoppers wasting your time.
Keep Your Focus On Your Business
While your business is up for sale, you still have to run your business. Often, business owners have difficulty running their business and navigating the complex sales process simultaneously. The end result can be drops in revenue and other business problems.
EBIT Associates can work with you to reduce your time and stress throughout the sales process. We can pre-screen potential buyers so that only serious buyers are brought to you for consideration.
Currently, the market conditions are great for sellers. If you are considering selling, now is the time to find a business broker and jump into the market!