09 Nov Mistakes Made By Sellers
Selling a business isn’t easy, and there are plenty of variables to consider when attempting to do so:
• Neglecting to run the business during the sales process. – The owner of a business can get so involved in the selling process that they neglect the day-to-day operation of the business.
•Underestimating the value of the business. – A business may actually command a higher price than the value determined by an appraiser.
• Lack of flexibility. –Structuring the deal with compromise is more important than the price or terms.
• Lack of perspective. – Buyers may look for different aspects of a business than those the seller looks for. This results in talking past one another and not reaching the right deal.
• Overvaluing the business – Sellers obviously want to maximize the price they receive for their business, but today’s marketplace is difficult to fool. A good buyer may just elect to pass because of an overly aggressive starting point.
Want to avoid these mistakes? If you’re ready to sell, contact Moshe Hazout at Transworld Business Advisors today!