Unrealistic Price Expectations. The prime reason why some small businesses do not sell is that the seller has unrealistically high price expectations. It is very important for business owners to establish a realistic and credible idea of fair market value for their businesses and to support it with financial information and a comparison chart with the market scenario.
No or Incomplete Documentation. You have to be prepared to disclose a fair amount of information to a serious buyer in order for them to gain the confidence required to move forward.
Insufficient Marketing. Sellers should be prepared to have their businesses confidentially marketed for a minimum of six months. The intermediary hired to market and sell your business should create a competitive environment where multiple buyers bid for the business.
Unrealistic expectations of the timeline
The day you decided to sell, it’s better that you know what all it entails so you can realistically prepare yourself to do what it takes to ensure a successful transition. Start planning your exit today, regardless of when you think you’re going to sell.
Commitment to the Process. Business owners should be prepared to spend time with prospective buyers and provide sufficient (qualified) information throughout the sales process when requested. This is most important after the buyer has begun the due diligence process.
At AR2, we deploy strategy in a way so that none of the important parameters are missed or skipped and in-depth analysis is done before implementation of a strategy to sell in a business.
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