Tuesday, April 15, 2014

Selling my business myself



Several times a month we receive calls from business owners asking how they can sell their business without having to pay for professional help.

We are happy to provide a basic 10 step time chart and the 16 fundamental building blocks required to complete the typical sale of business. When we tell them 15 years’ experience has taught us a typical sale of business from preparing their business for market, to finding a qualified buyer, to closing the deal can take up to 18 months. Then the typical transaction includes management continuity which is rarely less than a year means if you started the process to sell your business today you can expect to work for 3 years before your able to wake up in the morning wondering what to do with your new freedom.
They usually say something along the lines of “you must be kidding me” or out and out call “Bull#8$T”! 

The fact is if you as the business owner can run your business day to day, and prepare the business for sale, and assemble your corporate profile for attracting buyers, and establish a clear sense of your enterprise value, and search the market for solid buyers, and negotiate the transaction, and manage the lawyers and closing, and consistently make sure the deal you end up with is the one you started with, all the while not taking your eye of the financial performance of your business to make sure you maintain the value… then by all means do it yourself. 

And when you complete your sale, please call us as we are looking for a few good men (and women) to provide serious assistance, guidance, and value to the other business owners who are not up to the almost overwhelming task. Our team needs you. We will be happy to hear from you.