Sell Your Business

Top exit planning mistakes for businesses. Common mistakes that can be avoided if well informed:

1. Timing - Waiting until you must sell
A common mistake made by the small to mid-sized business owner is failing to consider exit planning when things are going well for the company.
2. Reactive versus proactive - Waiting for deals to come to you
Waiting for the perfect deal is like waiting for a lottery win. You might get lucky, but don't count on it. Selling your business requires much time and effort. Without deliberate planning and implementation, the probability of finding that deal is very low.
3. Narrow focus - Not considering all liquidity options
You may choose to exit the company in several stages or all at once. A common mistake is to view an outright sale of the company as the only option. Some of the options available to small and mid-sized business owners are a management buy-out, a sale to a financial buyer, a sale to a strategic buyer or an intra-family sale.
4. Distraction - Taking your eye off the ball
Running your company is a full time job. Selling a business is also a full time job. So how do you do it? Get help from a competent business broker and don't take your eye off the goal or continue to successfully grow and manage your company.
5. Valuation - Not knowing what your company is worth
Knowing where you are now is a prerequisite of a comprehensive exit plan. Then you can decide if that coincides with your exit objective. If not, how are you going to increase the value?
6. Thinking ahead - Lack of vision post exit
What do you want to do with your life apart from running the company? A complimentary question becomes: "How much money will it take to do what I want to do?" No exit planning process is complete without addressing these questions, and it is much easier to consider such issues well ahead of time.
7. Taxation - Not thoroughly planning for the impact of taxes
Proper planning considers how to minimize all taxes, but letting the tax tail wag the exit planning dog is a mistake. While tax minimization is an important consideration, it should be just one of a number of key issues that are addressed in the exit planning process.
8. Resources - Not using professionals properly
It is imperative that you engage a competent business broker to assist you. Time is not the only factor; expertise is perhaps a more important issue. You will be asking for trouble if you tried to become an expert in legal issues, accounting, taxation, deal-structuring, valuation, exit options, etc. Don't try to do it all yourself and be sure that the business broker you bring in to help you is seasoned and ethical. Always follow up with references before allowing a person or company to represent you in the marketplace.
9. Lack of deal experience - Understanding the time to complete a deal
Realize that getting a deal done takes time. Even with the most flawless execution, it is inevitable that there will be roadblocks and unexpected challenges in reaching the closing table. It is imperative that you and your business broker are on top of all key details so that when the inevitable issues arise, they can be handled quickly and the process can keep moving forward.

Once you’ve decided to sell, all attention turns to finding the best buyer…….

OLD Inc Business Brokers uses a proven confidential sales process to ensure a successful outcome. Here’s what we do for you during the sales process:

* Prepare a business valuation or Most Probable Selling Price (MPSP)
*Create a Confidential Business Profile (CBP) that identifies the benefits and potential of your company.
* Develop a marketing plan that identifies almost all possible buyers.
* Aggressively implement the marketing plan using our database, professional contacts and worldwide sources to notify prospects most likely to pay you full price.
* Qualify buyers to ensure your time is spent only on serious prospects.
* Negotiate price and terms. We deal with emotional issues without compromising your strength.
* Coordinate the closing, negotiating and expediting details with accountants, attorneys and other advisors, saving you and the buyer time and paving the way for a smooth closing with no surprises.
* Celebrate with you as you start a new life.