Selling A Business – How To Choose The Best Business Broker

During a recession, I coached a construction company from two million in annual revenue to $22 million in $18 months utilizing my referral system. In the previous 18 months they were a $4 million dollar company. They were losing ground. They ran several expensive marketing campaigns and weren’t getting any business from them. Their greatest challenge was getting enough opportunities to do business that generated enough profit for them to grow.

Of course, your broker will charge you a substantial commission, but it will all be worthwhile if you get the deal you want. Vested Business brokers in bangkok can be counted on to take care of the nitty-gritty that ensures a successful deal.

Your broker should be able to explain business valuation to you clearly and if he or she can’t, then how can he or she explain to a buyer what your Business brokers online is worth? Make sure your broker is confident in this area.

Making your business ready for a sale: This not only involves making your premises looking good but also your numbers in your balance sheet or profit & loss accounts.

Partners are necessary for two things. Either they will supply you with capital or they will provide you with skills you may not have. The latter is a better reason for a partner and a combination may work as long as you are going in with an even money 50-50 deal. I don’t recommend picking a partner based on their bank account. You will most likely have major problems within 12-18 months. Trust me, I’ve been there.

Qualifying buyers. Keep in mind that not all “interested parties” are really interested to buy your business. Your competitors might send representatives just to get inside scoop. Don’t waste your time on these people by creating a criteria that all your potential clients must meet before you talk to them.

Talk to the people in your life who are likely to be affected by the venture. Let them know the hours that you are likely to have to work and the risks involved. You might need their support if you initially go through a rough patch.

It’s time to start guiding your company in the direction of your dreams. Whether your ultimate goal is to increase the value of your company for future sale, or to build a legacy for future generations, begin today to make the changes.

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