Mini course on "Roadblocks to selling your business and how to avoid them"

Thinking of selling your business?

Whether you are thinking of selling now, in 3 months time or 3 years, this mini-course will teach you how to avoid the biggest roadblocks to a sale.

(Estimated read time to complete is 5 to 10 minutes)

Selling a business isn’t like selling a house (even though many business owners think it is). It usually takes much longer than the owner expects, requires a lot more preparation and can be an emotional roller coaster. 

Not only does the business need to be prepared but the owner needs to be prepared and have the right 'mindset' to go through the process.

Start by asking yourself the question "Why do I want to sell?" This may seem like an obvious thing but quite often sellers start the process without really thinking through the consequences of a sale. Most sellers want to sell for one of two reasons:

1. It's time. The seller is tired of the business and wants to have a life or even get into another completely different business. In this case the seller will have a "deadline" for selling.

2. It's money. The seller has set themself an amount of money they want or need from the sale and when the business can fetch that value then it's time to go.

My point is that you need to be clear before starting the sale process on why you are selling and what you will do after the sale. You need to be fully committed to selling before you start the process!

Now let's think about the buyer.

When someone is buying a business, they are usually buying a ‘profit stream’. Their top factor is: ‘How much profit is this business going to generate for me as the new owner?’

Their next question is: ‘What are the ongoing risks to that profit continuing when I am the owner?’

When you are preparing to sell your business, you need to think like a buyer.

How do things appear to your buyer? Do you have what it takes to provide the buyer with what they want? Check off the cards in this mini course to help you clear the selling roadblocks.

As the seller, start by asking yourself these 2 key questions:

·       Do I have a business or a practice? (What am I actually selling)?

·       Where is the value in my business?

With those questions in mind, click below to get started.