A LACK OF PRESENTATION:
If you are considering selling your business, you should present it to appeal to potential purchasers while maximizing your profit.
Nevertheless, not all sellers use this strategy. Imagine a 29-year-old company with a $1.5 million purchase price but has information regarding its revenue or profitability. It’s a strange company that has made potential buyers need clarification.
NOT STARTING WITH THE BASICS:
Even if the news is bad, you must start with the basics to sell your firm for a premium price.
- What is the current situation of the business?
- Is it still in operation?
- Do you have employees and customers?
Give information on physical assets such as equipment and property. Buyers want to know what they’re getting for their money.
NOT SHOWCASING OPPORTUNITIES:
If the company is no longer operating, explain why and what it would take to reopen it.
To sell at a premium, you must highlight opportunities that the present owners have not taken advantage of. Buyers want to discover how they can develop and expand the company.
LACK OF TRANSPARENCY:
Never make the mistake of offering little information or portraying your firm as a mystery when selling it.
Be open and informed, and highlight the possibility for development and success. If you do so, you will attract serious buyers who are prepared to pay a premium for a well-presented and sustainable business.