Business Selling Tips — 5 Easy Steps.

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"Selling my business." What will be the very first thought that comes to your mind at the sight of such an announcement? True: if the business is sold, then everything is very bad there. Your potential buyers think the same. And even if you really have problems with the business, and you want to sell it as soon as possible, you need to make them an offer that they can’t refuse, and in addition also make good money. To do this, you do not need to have any special knowledge, extensive experience in sales, connections, talent, extrasensory abilities and other superpowers. You need to know 5 simple steps, following which you will significantly increase the chances of selling your business profitably.

Step one — we study the buyer

When selling a business, you should clearly know to whom you are selling it. Examine your customer’s needs, requirements, and pains. Pay special attention to the management process: it must be simple and clear so that the client says: "I know how to manage this business." The reporting system and accounting should also be extremely clear.

Step 2 — make business in demand

No one will buy what is not in demand. When offering to buy a business, you must create a positive image of him in the eyes of the buyer so that he thinks: “Oh yes, I’ll raise a lot of money on this”. Prepare a case, sales analytics, describe the products favorably, explain why it makes a steady profit. Some businessmen draw up an investment memorandum — a document that describes all the information about the business being sold.

Step 3 — Finding Customers

There are two of the most popular ways to find customers today:

• Through the media;
• “focal” search — when looking for buyers who are interested in acquiring a business with a specific focus.
The second method is most effective, because it "weeds out" people who are not interested in the offer, and only works with potential buyers.

Step 4 — customer interaction

Finding a buyer willing to buy your business is not so bad. It is important to competently interact with him at all stages of the sale. You must become not just a seller, but a good friend, ready to prompt, instruct and direct.

Step 5 — making a deal

But at this stage, the principles “Our people are counted” do not work. Remind the client that the contract contains all the important points that, if not observed, require liability. Any transaction is fraught with risks, both from the seller and the buyer. The seller risks the loss of business, lost price profit, as well as dishonesty of the buyer in terms of payment.

However, the buyer has more risks:

ownership of equipment, intellectual property and raw materials may belong to third parties (this is done, for example, to avoid taxes);
unstable profit;
reputation of the former owner;
the inability of the buyer to effectively manage the company.

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