1:25 AM
Ratnarao
If you are staring to think 'I need to sell my company' you are likely wondering how you can get the highest price possible. You have likely put a lot of time and effort into making your business as successful as possible. Getting a good return on investment is important.
The crucial first step is to find out exactly what buyers will need to know so that you can prepare ahead of time. The main things that buyers will need to know are the profits and losses, the skills needed to run it, why you are selling and whether there are any problems with it.
To maximize your chances of getting the best deal you will need to address each of those points honestly. You will still want to put each point in as positive a light as possible. You will need to prepare ahead.
In preparing the financial information for the negotiations you will need to include the entirety of the last three years as well as the value of any assets and debts that will carry over with the sale of the company. This will give a complete picture of the on-paper value. Provided the statement is good it could help improve your bargaining power. If nothing else it will remove any ambiguity from the sale.
A big deciding point for potential buyers is whether they can actually manage the business effectively. By providing a description of the skills that they will require to do this you will be able to help them out and sort out the people who aren't actually interested. Start noting down what skills you use in your day-to-day activities so that you can have a complete list for when you meet up with the buyers.
Every prospective buyer will want to know if there are any problems with the company and why you have decided to sell. It's natural to assume that there is something wrong with it if it is being sold. The best thing you can do is to be honest (they will find out anyway) about any problems and discuss with the buyer how they can solve them.
Negotiating can be tough when you decide 'I want to sell my company'. With the correct preparation you will be able to bargain for a price more suited to your needs.
The crucial first step is to find out exactly what buyers will need to know so that you can prepare ahead of time. The main things that buyers will need to know are the profits and losses, the skills needed to run it, why you are selling and whether there are any problems with it.
To maximize your chances of getting the best deal you will need to address each of those points honestly. You will still want to put each point in as positive a light as possible. You will need to prepare ahead.
In preparing the financial information for the negotiations you will need to include the entirety of the last three years as well as the value of any assets and debts that will carry over with the sale of the company. This will give a complete picture of the on-paper value. Provided the statement is good it could help improve your bargaining power. If nothing else it will remove any ambiguity from the sale.
A big deciding point for potential buyers is whether they can actually manage the business effectively. By providing a description of the skills that they will require to do this you will be able to help them out and sort out the people who aren't actually interested. Start noting down what skills you use in your day-to-day activities so that you can have a complete list for when you meet up with the buyers.
Every prospective buyer will want to know if there are any problems with the company and why you have decided to sell. It's natural to assume that there is something wrong with it if it is being sold. The best thing you can do is to be honest (they will find out anyway) about any problems and discuss with the buyer how they can solve them.
Negotiating can be tough when you decide 'I want to sell my company'. With the correct preparation you will be able to bargain for a price more suited to your needs.
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