Is Your Business Ready to Sell?

Posted by businesstrader under Advertising
From http://www.bizlistings.com.au 4236 days ago
Made Hot by: steefen on April 15, 2013 8:34 pm

Selling your business is an exciting time in your life, but if it is not ready to sell, then you could stand to lose thousands of dollars.

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Comments

Written by AngelBiz
4231 days ago

Completely agree with you. Selling a business is lot more challenging and time consuming than selling real estate. As you suggested organizing your financials and other details before putting your business for sale will save lot of headaches down the road.

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Written by Monsieur Eraser
4236 days ago

Hi Peter,

Thanks for the helpful overview. I think one important aspect of selling a business not mentioned often enough. It's the idea of removing yourself from the business. John Warrillow talks about this in his influential book Built to Sell. Your buyer will want a business that can make money for them even if you're no longer in the picture. Otherwise you are really the business which ultimately makes the business itself less marketable.

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Written by businesstrader
4236 days ago

Absolutely! There are many factors when selling a business, and as you mention, one very important fact to consider is if the business will continue running smoothly without you! In this case, training and an introduction period should be offered.

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Written by businesstrader
4236 days ago

Online businesses seem to sell much faster than an actual physical business as there are a lot of benefits to owning and operating an online business. I don't think you will have any issues finding a buyer. I'd love to see your site??

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Written by businesstrader
4236 days ago

Well done Fatlester! This is exactly what needs to be done. Too many times business owners rush into a sale and end up losing big dollars. The lesson is, start preparing for the sale the minute you open for business because you never know when you might be forced into a sale.

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Written by FatLester
4236 days ago

Thanks for posting the article! I printed it out and will probably reference it more than once in between now and then, presuming then eventually does arrive.

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Written by FatLester
4236 days ago

I've got an online retail business that's anywhere from 6 months to a year away from being ready to sell based on how much money I would like to receive for it.

It's really taking off, and may even wind up exceeding my expectations in terms of what it winds up bringing in.

I'm having to add staff regularly just to keep up with the ever-growing order volumes.

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