You are probably the worst person to manage the sale of your business. Even if you’re a professional salesperson. The answer is simple: you’re already tied up in every part of the business. Even if you think you can view the sale process objectively, you may be blind to its flaws, and over-emphasize its strengths.
Turning to a specialist, like a valuation expert or a relationship developer, can help you look at your business from an arm’s length. They’ll think about things you overlook, and give you facts about where your business stands compared to the competition, and the market in your industry. That kind of research is what you need to get a fair view of where your company stands as you develop your exit plan.
Time You Don’t Have
If you’re considering selling your business to a third party, remember that while you’re only going to sell your company once, many buyers have experience picking up multiple businesses. They know what to look for, and how to negotiate the best deal for themselves. An exit planning team brings experience and knowledge you don’t have to any bargain for the business.
Exit planners also can spend the time you can’t spend preparing for the sale. Time spent readying a business for a transfer is time you’re not spending on improving the company’s value. A company that isn’t worth much won’t find many buyers.
When you work with EXITS on an exit plan, you’re welcoming a skilled, experienced group to your team. Their entire goal is to meet your exit objectives, whether that’s making you as much money as possible, treating employees the way you want them to be treated, or simply taking the pressure off you as you get ready for retirement. The EXITS planning team is there to help you sell your business — because you shouldn’t try and sell it yourself.
Why are you selling your business?
(image: Don Stott)