Golden Rule of Selling a Business

Golden Rule of Selling a Business

The Golden Rule

There are many aspects which need detailed attention when it comes to selling a business; however the golden rule of a successful transaction is:

“To look at the selling process through the eyes of the other party”

Selling a Business

Get a Help – Business Broker?
Most buyers and sellers have not bought and sold businesses many times before. By putting a professional in between, not only it facilitates the process but also helps to improve communication between parties, which results in desired outcome.
There are rules to follow; and having a qualified business broker in between can ensure these rules are adhering to. A licensed business broker knows what to disclose and in what order; he can be a “go to” person for both parties.

Show it – You can’t sell, what you can’t show
Your business can have a great deal of potential but if your books can’t reflect it then buyers may not take it seriously. Buyers will evaluate your business on its real value; they will be asking for all sort of supportive documents and if you can’t provide it then you can’t sell the business. So the key is to prepare your business really well, for the sale. A qualified business broker knows, what buyers are looking for and how to address it with them.

Patience, Patience and Patience
Selling a business is a lengthy process. For buyers it is a life time decision and they can be quiet nervous. They will take as much time as possible to make up their mind. Even after making a decision, they will move quiet cautiously and with an excruciatingly slow pace. As a business owner, you need to concentrate on running day to day operations of your business; instead of going through an emotional rollercoaster, in which a buyer can put you. A professional business broker understands this aspect of the process very well and has been through it many times. He can steer the process for a quicker outcome.

Eventually, those businesses pass which are handled by professionals, show true information, and catch the eye of other party.

Ready to sell? Contact CBC Business Brokers Sydney today on 1300 661 498 for a free strategy session.

Contact Details:
CBC Business Brokers Sydney

Level 34, AMP Centre,
50 Bridge St,
Sydney NSW 2000

T: 1300 661 498