Sneaky, Sneaky – Why A Business Seller Really Needs A Business Broker



 

 

If you are on the road to sell your business, you probably already know the importance of confidentiality when it comes to maintaining the integrity of your business. If you don’t, here’s why it is completely and totally necessary:

 

When the average person hears that a business is for sale, it immediately conjures the image that the business is in some kind of trouble – possibly teetering on the brink of failure. This is, of course, not reality – but this dangerous false perception can cause real havoc within your business if the word gets out that you are trying to sell. Think about what your employees will think if they think the business is about to close the doors. Think about what your competition might do if they think you are about to go under. You can lose vendors, contracts, future customers. Not good.

 

This is why, instead of trying to sell your business on your own, you really need a good business broker at your side. One of the major responsibilities of a business broker is maintaining that all important confidently – and therefore the integrity of your business.

 

How do we as brokers maintain confidentiality?

 

We ask questions, do our homework and we make people sign legally binding confidentiality agreements.

 

What kind of questions do we ask? The kind that will weed-out the sneaky, sneaky people who have no business knowing that your business is for sale.

 

We get a list of people from you that you don’t want knowing the business is for sale, like your current or former staff or a big competitor. We get the full name and physical address of anyone who wants to sign a non-disclosure agreement for your business. We “Google” people to find out if they really are who they say they are. We have multiple ways to research prospective buyers, and we use those research tools. By doing our homework, we ensure that your confidentiality stays in place.

 

Doing our homework also means we catch sneaky people, and we catch them all the time. Staff members who pose as someone else to find out if the for-sale rumors are true. The owners of competing businesses who have their parents or siblings call, pretending to be buyers. Real estate agents posing as business brokers calling on behalf of someone on the don’t-disclose list.

 

Our diligence when it comes to confidentially is what keeps your business safe. A buyer on their own probably isn’t going to know the industry well enough to know when someone is posing as someone they’re not. You aren’t going to have the time to properly vet curious potential buyers – you need to run your business and prep it for sale, both of which take enormous amounts of time and energy. Don’t go it alone and risk irreparably damaging your business. Having a good broker at your side is essential to keep confidentiality in place.

 

Do you have more questions about the importance of confidentiality or how we go about keeping it in place? Would you like to know more about other parts of the business selling process? Ask us! Please leave questions or comments here and we would be happy to help.

 

 

 

Michael Monnot

941.518.7138
Mike@infinitybusinessbrokers.com
12995 South Cleveland Avenue, Suite 249
Fort Myers, FL 33907

https://infinitybusinessbrokers.com

 


Two Easy Steps To Beef Up Your Business Before You Sell



If you are thinking about selling your business, you should also think about maximizing the the potential value of your business to buyers before the business hits the market. Many business owners who start the selling process take their foot off the gas, expecting the business to sell quickly and without much effort. If you are considering this approach, you should know that the typical time it takes to get from listing to closing is 9-12 months, an absolute eternity if you stop caring about running your business and plenty of time for you to sink what you’ve built.

 

Instead of trying to coast to the finish line, you should do everything you can to continue the growth of your business by seeking out new customers to add to your base. Increasing your customer base will add value to your business in the eyes of buyers, and will also show them that your business is a good investment because you as the current owner always have an eye on growth.

 

Young cheerful businessman watering green growing graph with can

 

Although it can be difficult to find new customers in a small, local area there are a few relatively simple things you can try to get your business noticed by both new clientele and buyers.

 

Get and Maintain an Online Presence

Hop on any major search engine and type in the name of your business. What pops up? If you have no online presence to speak of you should know that in our increasingly digital world absence from the internet realm will reflect very poorly on your business. Why? Any buyer who sees you have neglected the most important avenue for customers to find you will wonder what other aspects of the business you have let slide.

 

It is very easy to make yourself visible online. You first need to make sure your business information is both listed and correct on all of the major search engines, the yellow pages, etc. Your listings on these sites should include your address, phone number, an email and a short blurb about what you do. Next, you should set up a business Facebook page and regularly post news about your products and services. Finally, ALL businesses need a website. A business without a website is the equivalent of a store without a sign out front. There are many services available to create a website on your own without any tech-savvy knowledge or you can hire a web designer to create one for you. Make sure your website includes the location of the business, the contact information, the hours of operation and the products or services you provide. Make it incredibly easy for people to find you and your customer base will grow.

 

Ask For and Respond To Feedback

Websites like TripAdvisor and Yelp are where customers look when deciding on a new business to use, so use rating sites like these to your advantage. Ask customers to rate you, and respond in a positive way to any negative reviews by addressing and then fixing that person’s concerns. Showing that you are an engaged owner will not only help your business reputation with customers, it will help with any potential buyers as well.

 

Taking these two fairly easy steps to bring in new customers will both add to your bottom line and impress any potential buyers who come in the door. Don’t take your foot off the gas!

 

Are you thinking about selling your business and want to know more about growing the business to sell? Do you have questions about the business selling process? Please feel free to leave any questions or comments here and we will be happy to help.

 

 

 

Michael Monnot

941.518.7138
Mike@infinitybusinessbrokers.com
12995 South Cleveland Avenue, Suite 249
Fort Myers, FL 33907

https://infinitybusinessbrokers.com



Michael Monnot

941.518.7138
Mike@InfinityBusinessBrokers.com

5111-E Ocean Blvd
Siesta Key, FL 34242

Michael Monnot

941.518.7138
Mike@InfinityBusinessBrokers.com

5111-E Ocean Blvd
Siesta Key, FL 34242




Search



Recent Posts

Categories

Archives

Tags