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Top Reasons To Sell Your Small Business. #1: Business Owner Burnout

The thrill is gone. You feel a sense of dread on your way to your office. You’ve grown tired of managing your people, dealing with your customers, and handling the curve balls that come up when running a business.

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Struggling With The Decision To Sell Your Business

When it comes to the business you’ve built with your own blood, sweat and tears, the thought of selling generates strong emotions.

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What To Look For In A Broker’s Contract

As with all types of legal agreements, contracts can vary from broker to broker. Some contracts include most of the following items while others don’t.

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Top 5 Questions To Ask Before Partnering With A Broker

  1. “How many years experience do you have?” You want a superstar with a proven track record they can back up with references. If a broker can’t provide a list of satisfied sellers, it’s a red flag.
  2. “How many business like mine have you sold?” A broker with experience in your industry is well positioned to successfully market your business. However, a long track record in your area and experience in related industries can make up for it. Ask them how they’ll compensate for their lack of experience with your type of business.

  3. “What is your Closing Ratio?” This is the ratio between businesses they listed verses businesses they sold. A closing ratio around 50% or lower isn’t much better that the 50-50 odds against selling your business by yourself.

  4. “Do you have relationships with private lenders to assist with Acquisition Loans? In an ideal world, every buyer has excellent credit and the huge down payment traditional lenders want. This is not a perfect world. When a broker can bring private lenders to the table, it benefits the buyer and seller alike.  

  5. “Can you provide me with a copy of your Confidentiality Agreement?” If the broker doesn’t use a professional Confidentiality Agreement, move on.

Next up: What To Look For In A Broker’s Contract.

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What A Talented Broker Brings To The Table

A talented broker brings the skills, knowledge, and time-tested techniques you need to get top dollar for your business.

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Selling Your Small Business – The Pitfalls Of Going It Alone

Your do-it-yourself spirit is the reason you launched your own business. When you’re ready to cash out, it’s natural to assume you have what it takes to sell it.

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Boost The Value Of Your Business Before You Sell. Tip #8: Diversify Your Customer Base

When it comes to establishing the value of your business, one factor buyers consider may not be obvious to you – a diversified customer base.

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Boost The Value Of Your Business Before You Sell. Tip #7: Amp Up Your Marketing Program

Potential buyers want to fully understand how you acquire customers and generate sales.

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Boost The Value Of Your Business Before You Sell. Tip #6: Sell Unnecessary & Obsolete Assets

It’s difficult to evaluate the value of your business when a number of the company’s assets aren’t essential to operation or, worse, obsolete.

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Boost The Value Of Your Business Before You Sell. Tip #5: Reduce Your Personal Perks

Like many owners, you may charge personal perks to your business to reduce your company’s tax burden.

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