Prepare for Sale
Whenever I meet with buyers of businesses, they ask me the same questions:
- How will the seller prove his turnover?
- How does he arrive at that selling price?
- What will happen if he loses his biggest customer?
- Where is the value?
- What are the opportunities?
- How do I know that he’s not a con artist?
- Why is he really selling?
- How do I determine the real fixed costs?
- How do I deal with his staff?
- How am I going to learn to run the business?
- I’m not sure I trust the seller. How do I deal with this?
- What other information can you give me besides all these numbers?
- Why do I have to take so much stock?
- The vehicles are all shot – do I need to take them?
What you really need to do in order to pump up your shareholders’ life raft is start inflating it with tools you already have. Your raft will have all the answers any potential purchaser of your business is looking for.
And this is exactly what “Prepare your business for sale™” will show you. Not only will it give you the tools to pump, but it will stock the raft with all the life surviving necessities, plus a few humble luxuries.
There is no substitute for building a relationship. Selling a business is not akin to selling second hand cars. We are changing people’s lives here. Let’s do it with some empathy and understanding. We are the experts, we do it every day. It is our duty to look after both seller and purchaser.