Don't miss an opportunity when you come to sell your business

Selling your business can be one of the most valuable transactions your ever make. This is a company you've built up and invested your time and money in, so don't go cutting corners and missing out on your returns when it comes to the sale.

Unfortunately, we've noted a few too many business sellers giving this idea verbal acknowledgement, only to fail to implement the required preparations when it comes to making a sale.

When it comes to selling a house, property owners are well aware that they need to get the house in its best possible condition before showing it to prospective buyers. Doing so tempts a wider range of buyers to show an interest and it should also push up the price they are willing to offer. So why is it such a big jump to apply the same logic to a business sale?

The preparation for a sale needn't be difficult. Discuss matters with advisers and experts, these people will be able to show you the best way to maximise your return on the sale. They should sit down and help you draw up key areas to monitor and assess before making the sale, such as staffing and finances.

Once you've arranged the company's affairs, you can start to look at the areas you want to highlight to any potential buyers. Draw up the areas that demonstrate the company's value and its unique selling points. Intellectual property, concrete assets and location are all worth considering if they put you above any competitors.

Ultimately, the sales process isn't easy. As famed entrepreneur James Caan recently remarked in the Evening Standard: “Selling a company … takes time and commitment.”

He continued: “Buyers need the confidence that you have build something that is sustainable, has a good reputation. Most importantly, they must know that it has a strong future under their ownership.

“They only way to achieve this is to plan your exit by preparing your business for sale. So seek the advice of experts – you will reap the rewards emotionally and financially.”

But as they say, luck favours the prepared, so start drawing up the positives of your company and outlining the areas in which you need to do a bit more work before putting the business on the market.

Once you've started work on this you can look into printing a free listing with the Business Sale Report, a free valuation and an appraisal of your business, giving your company the high level of exposure to thousands of potential buyers that it deserves.

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