As a business owner, and part of the baby boomer generation, you’ve seen your share of ups and downs in the business world.

If you are considering the sale of your business there are a growing number of brokers and mergers and acquisition specialists available to offer professional assistance to help you determine the value of your business and how the market might respond. 
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Here’s another guaranteed 5 ways you will NOT sell your business.

1. Assuming you know what the buyer wants.

Buying a business is a unique experience with every transaction unique.  Assuming you understand the needs, wants and motivations of a buyer is a bad practice as a smart buyer will not reveal their true motivations.

2. Failing to understand the buyer’s objectives and if the business meets their needs.

Assuming you know what the buyer wants is totally different to clearly understanding what the buyer wants to know from you and whether or not this is the right business for them to buy.  If you can meet the criteria the buyer gives you…you are on your way even though the criteria may not ultimately be what the buyer says to you.

3. Improper pre-sale planning and failing to be organized.

There are so many steps to selling a business.  Being organized and having all the right processes in place is a starting point to try and be successful.

4. Answering the question before it is asked.
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Whether or not you ever plan on selling your business, there are important lessons to learn from building a business that has value. Buyers look for businesses that are well-rounded, with systems and processes in place that make it easy for someone else to pick up where you left off. Unfortunately, many business owners are the heart of the business, working long hours and making it difficult to transfer responsibilities to another party (or take a vacation or a day off!).

Companies like You Tube and Paypal were purchased for astronomical sums of money. If you envision retiring early or moving on to bigger and better opportunities, there are some important strategies you need to learn before opportunity comes knocking!

In this unique and information-packed teleclass, you will learn:
*The biggest mistake business owners make when building a sellable business
*Strategies you should employ to build a business with valu
*How the value of a business is determined
*What buyers want to know when deciding to buy a business
*The documentation needed to sell a business
*Tips for qualifying a potential buyer
*How financing works
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Trying to sell (or indeed buy) a business is arguably one of the most difficult task sales a business owner will encounter. This blog will provide information about the different tasks and questions business owners may come across when selling a business.  It will also provide a means for a seller to plan, get organized and be ready when selling their business in order to be better prepared and understand what’s happening at each point in the transaction.

There are so many moving parts and nuances to selling a business and often these change very quickly.  Each transaction is unique in that it brings together not only the different experiences of the buyers and sellers, but also the attorneys, accountants, landlords, lenders, appraisers, intermediaries/brokers and other parties in the transaction.

What questions or problems do you have about selling your business?

Your comments are always welcome.