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Sell A Business - Tips To Keep In Mind

April 12, 2012 | Comments: 0 | Views: 93

To sell a business successfully, the key skills required are project management tactics and strategic leadership. By instigating your leadership in the right path you can turn your vision into reality. The right kind of business strategies will help you to translate your vision of selling a business into a reality. It is not a very easy task and must be handled with great intelligence and involvement. If you are seriously considering the idea to sell a business then following a few steps will make the entire process faster and easier for you.

Before you actually start marketing your business to the prospective buyers round the world, it is very important that you make it more appealing to them. Apart from making the necessary cosmetic changes, it is important that you resolve all the financial, environmental and legal issues related to your company, if any. Selling a business is not only a financial transaction but also involves emotional factors. You must not keep any stone unturned to erase their skeptical thoughts and make them assured of the quality of your business. Seek the help of your personal lawyer or professional business adviser to make your business enterprise free of any such issues. Selling a business is not the same as making a real estate deal. So, choose a broker or a professional who has great expertise in the matter of business selling.

Determining the right market value of all the business assets. Nobody will want to sell the business in loss and so it becomes very important that you do the valuation of the assets in the correct manner. If you yourself, is not much capable of doing this, then take the help of your personal accountant. You can also avail the assistance of business valuator. Involving brokers may lessen your percentage of profit, as you will have to share a percentage of the selling price with them. To keep the price of selling all by yourself, be more involved with the entire procedure and research vehemently about the current market valuation of your business. You must state a realistic selling price and opt for negotiation wherever possible.

Determination of the selling price depends on a good number of factors which includes, margin of sales, annual profit earning, property valuation of a particular city and customer base. If your enterprise has not tasted the sweet fruit of success in the recent past then you can hardly manage to achieve a good market price for it. If you do not claim your cash sales too often then it will not be an easy task to sell it. Business and personal expenses must not be mingled together. If you are planning to sell the business, take a few months time to strengthen the cash flow in the months before selling it.

Steve Takajo is a specialist business broker who selling high quality businesses with a proven track record. Contact Steve for more information on how to sell a business or business for sell.

Source: EzineArticles
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