The business of buying and selling businesses is competitive, and at times can be almost cutthroat. To sell your business for its maximum value it’s important that you know it’s true worth. A lot of companies that are presently for sale are not being sold at a price that matches or is even close to industry average.
The owners of small businesses are often caught off-guard when selling their companies. They’re unprepared, and sometimes overwhelmed by the task of selling a business. The owners have trouble separating their personal feelings from how much they should be asking for the business, and what the true value is. In addition to this, there are limited resources available that can help prepare them to sell their company in the correct way because it’s simply not something that happens every day.
The other pitfall is that many business owners don’t know how to spot a premium offer or what should be included in one, so they take whatever comes along without knowing any better. Because of this, they’re missing out on the opportunity to receive full value for their business.
There’s no question that you need to know what to do in order for your sale to succeed.
The greatest advice is to be clear on the value of your company and how much you should sell it for. You also must demonstrate why people should purchase your company instead of someone else’s.
It’s because of this, and our desire to provide the REAL unfair advantage to business owners who are ready to sell their businesses, but don’t want the added expense of a full-service business brokerage firm, that Business Selling Mastery was born.
We’ve worked with hundreds of entrepreneurs just like you who have become the masters at finding a buyer for their companies. They’ve learned how to effectively get maximum value for their business, which is something that anyone can learn!
The bottom line is that you can set yourself up to be in a position where you will have options related to the sale of your business, but it all starts with having the confidence and information required to sell your company at 40% or more than industry average.
Based on our knowledge and experience gained from working with many business owners, these are 3 key strategies worth sharing with you to help sell your business for 40% or more than industry average:
- Get Your House In Order:
Selling a business is never easy and it takes effort and time to prepare yourself before you start looking for interested buyers. This means you will need to make your company attractive and ready for sale.
When looking for an interested buyer, you want the best deal possible; this is where most entrepreneurs struggle or even fail at selling their business. You can always ask for a higher price, but it’s hard to go back and ask the potential buyer that has already made an offer to pay more.
- Know Your Worth:
Before you look for interested buyers, it’s crucial that you have an understanding of your company’s value so the right decision can be made regarding the asking price. If you are not sure how much your business is worth, learn about its true value and how it can be sold at 40% or more than the industry average.
- Market Your Business:
Once you have your business prepared and know its true value, it’s time to start marketing. You can use a website, or these days social media is widely used for online marketing purposes.
There are multiple ways to market your business for sale, but make sure you don’t waste any time and money on the wrong methods because those can set you back months, if not years, and cost you tens of thousands of dollars.
The sale of your business is an extremely important process, and it requires a lot of preparation. Knowing the exact steps to take when preparing for sale will save you time, money & stress – all while maximizing potential gains in both value & knowledge about what buyers are looking for.
Whether or not you have a business to sell or want to buy, owning this knowledge is worth the investment. If you have a business and are ready to sell, our Business Selling Mastery Program will educate any Canadian entrepreneur on what they need in order to successfully navigate through this process, providing them with strategic information as well as the tactical knowledge required to sell their own business and make 40% or more profit than the industry average!
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