In Summary: The 5 Stages Of The Business Lifecycle

Every business passes through five distinct lifecycle stages and each is a factor in how buyers value your company.   

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Top Reasons To Sell Your Small Business. #5: Crucial Factors You Shouldn’t Ignore

Your top manager plans to retire in a couple of years. It won’t be easy to replace this key leader. In fact, many potential buyers consider the strength and performance of your staff when determining the amount of their offer. It’s far better to sell when your top managers are still in place.

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Top Reasons To Sell Your Small Business. #4: Family Members Aren’t Willing Or Able To Take Over.

Far too many business owners assume a family member will take over the helm when they’re ready to retire.

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Top Reasons To Sell Your Small Business. #3: You Can’t Keep Up With Technology

These days, technology becomes obsolete at a mind-blowing speed. To stay competitive you have to keep up with technological advances and continually train your team in its use.

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Top Reasons To Sell Your Small Business. #2: Your Market Share Is Stagnating

What are the signs your market share has started to stagnate or, worse, on a slow decline?

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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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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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