As a seller, you want to get top dollar for your business, but wanting the world and getting the world are vastly different matters. Every seller wants top dollar for their business, but what is most important when the time comes to sell is to be realistic.
What kinds of things are buyers looking for when they are determining what to spend on a business? They are looking for industries that are in demand, for businesses with a large market share, for businesses that are performing well and are profitable.
What if my business doesn’t have those qualities? Don’t be disheartened if your business isn’t the industry leader or even if your business isn’t currently turning a profit. Businesses in the red sell all the time, and for the right buyer with the time and resources to make the changes necessary to get back in the black – that business can be a terrific buy.
The key to getting the best price for your business is to focus on the strengths, the opportunities for growth, and on the parts of the business that make it unique. If you play up the plusses, you will get a better return on your investment.
The key here is to be realistic. It is incredibly important for the success of your transaction that you keep your eyes on the goal of selling your business. If you don’t get the premium price you had hoped for, you can at least get a fair price for what you are offering. If you still insist on waiting for an unrealistic price, you may languish in the market indefinitely.
Are you trying to sell your business but your numbers don’t look good? Are you curious about how much you could get if you sold your business today? Please feel free to leave us a comment or question here and we will be happy to help you with selling your business.