The Top Ten Mistakes That Business Owners Make When Trying To Sell Their Business And How To Avoid Them

    • The Top Ten Mistakes That Business Owners Make When Trying To Sell Their Business And How To Avoid Them
      Jey @ V R Business Sales Canada Image Jey @ V R Business Sales Canada

      The Top Ten Mistakes That Business Owners Make When Trying To Sell Their Business And How To Avoid Them

      1. Lack of a Firm Decision to Sell
      2. Sale Timing Not Right
      3. Inadequate Financial Records
      4. Lack of a marketing Plan
      5. Wrong Price
      6. Demanding All Cash
      7. Lack of Buyer Qualification
      8. Selling to the Wrong Buyer
      9. Negotiating Too Hard
      10. Trying to Sell it Yourself

      High value succession planning concepts in this session include:

      • Why you shouldn’t try to sell the business yourself
      • Why determining the ‘right’ selling price for your business is so important
      • How honest profit reporting can reward you when you sell your business
      • Why demanding an all cash deal could reduce your selling price by 27%
      • Why selling to a third party may be your best option
      • Key buyer questions including; Is the business profitable? Can the business help me to pay back the loan I took out to buy it? Can this business provide enough income for me and my family? What will be my return on investment (ROI)?
      • Why seller/buyer chemistry is critical when it comes to closing the deal
      • Timing – find out the right time to sell your business
      • Beyond price: When it comes to negotiation you should also consider how to leverage key elements like the non-compete agreement, lease, buy-out term and more
      • How a broker gets paid
      • Why selling your small business requires a full team of experts in accounting, legal, insurance and more
      • Why you should have a succession plan well under way before you sell your business
      • How to take the emotion out of the selling equation
      • How to exit your business on your own terms