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Selling Your Business: What You Need to Know

'http://www.123rf.com/profile_boris15'>boris15 / 123RF Stock PhotoMost business owners are great at running their businesses, but when it comes to selling their businesses, they’re completely in the dark. Who can blame them? There’s never been a need to learn.

That’s why the business owners we have represented over the years have been confused about the various issues related to selling a business. They’re venturing into unknown territory and that can be scary for even the most experienced entrepreneur.

Seller Misconceptions

Apart from confusion about the value of their businesses, we’ve found there are some common misconceptions or misunderstandings:

  • Length of time it takes to sell a business
  • Assets and liabilities that are being sold
  • Asset versus share sale
  • Working capital
  • Types of buyers
  • Deal structure
  • Deal terms and conditions

Education is the Key

Our mandate is to help you understand the most important concepts, so you’ll not only be informed but also a little more at ease when talking to us or to buyers about your business. An educated seller is more likely to be a successful seller.

The information in this section, and in the other sections of this site, is provided so you can become a more savvy seller and make educated decisions instead of losing days or weeks of sleep. The more you know, the more control you’ll have over the entire process. That’s extremely important because you’ll likely be dealing with sophisticated buyers who have a lot of experience buying businesses. If they think you’re naïve, they’ll try to take control of the deal and you’ll be playing catch up each step of the way.

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