How to Sell Your Business

Do You Want to Know How to Sell Your Business?

You Need The 3 C’s to Sell Any Business.

For anyone that has worked hard to build a business, you know that it isn’t easy.

There are countless hours of work, all kinds of stress and a fair amount of money that goes into starting and building a business with the hope that one day you will be able to sell your business for a tidy sum of money and happily move on to the next stage of your life.

But for anyone that has tried to sell their business, you know that the work isn’t over.

It’s rare that a business will sell easily, or on its own.

Normally it takes the business owner a lot of time, stress, effort and trial and error to successfully sell their business.

This article isn’t about the nuts and bolts of selling a business.

Rather, this article covers 3 Key Concepts that you need to understand and implement into your business sale strategy if you hope to sell your business.

I refer to these 3 Key Business Sale Concepts as the “3 C’s”

‘C’ #1 – CLARITY

For a potential business buyer to seriously consider buying your business, you need to provide that buyer with Clarity.

Clarity means presenting your business in a clear and easy to understand fashion.

Buyers don’t like to feel confused.

And buyers don’t like it when they don’t understand your business or parts of your business.

When a buyer feels confused about your business, there is only a slim chance that the buyer will take any more steps toward learning about your business.

To avoid buyer confusion, and in turn sabotaging your business sale, you need to present your business clearly.

This means that your financials need to be accurate and up to date. Your inventory and equipment list need to be current. And your products and or services need to be defined.

These are only a few examples, but you get the idea. Your business information has to be presented clearly to the buyer.

‘C’ #2 – CERTAINTY

Most of us our risk adverse.

In other words, we don’t like to take chances or put ourselves at risk.

This is certainly true for most buyers.

While most buyers of a business have a certain level or entrepreneurial spirit, they are discerning and are unlikely to accept much risk in a business purchase.

The best way to create certainty for a buyer is by presenting quality data about the past performance of your business.

While the past is no absolute guarantee, it is the best predictor of gauging future performance.

With a strong financial past, a historic record of repeat customers, and long-term employees, you are creating certainty in the mind of the buyer.

‘C’ #3 – CONFIDENCE

If you have addressed the first two C’s, you are well on your way to achieving C #3, and that is Confidence.

If you have presented your business for sale with Clarity, and created Certainty in the mind of the buyer, then chances are that the buyer is feeling Confident about your business.

A buyer feels Confident in your business when the buyer trusts that the information that you have provided is accurate and true.

Confident buyers are buyers that believe in your business, agree with its value, and see the opportunity in your business.

Final Thoughts

If you want to sell your business in the least amount of time, and for the highest value, make sure that your business for sale has achieved the 3 “C’s”

Clarity. Certainty. Confidence.

To Find Out How to Sell Your Business contact:

www.businessbrokerbc.ca