Niche Market Exit Planning Tips
Selling a Blankbooks Manufacturers Business
You've learned a lot during your tenure as a blankbooks manufacturers business owner. The next step is to position your business for the demands of the business-for-sale marketplace.
Today's blankbooks manufacturers business buyers tend to be more skeptical than most about the nation's economic outlook.
At Gaebler, we think waiting for the economy to rebound is a mistake for many business owners. Selling a blankbooks manufacturers business isn't easy, but we believe sellers can achieve their goals in any economic environment.
Are You the Right Person to Sell Your Business?
As the owner, you are both the best and worst person to sell your blankbooks manufacturers business. Without a doubt, you have the most at stake in the outcome of your sale. That makes you the most passionate advocate for your blankbooks manufacturers business in the business-for-sale marketplace. However, your close connection to your company can also be a drawback. Nearly all sellers have an inflated sense of their company's value. Business brokers and other third-party consultants bring objectivity to the sale process and give you much-needed insight about buyers' mindsets.
Preparing Your Employees
Business sellers walk a fine line when it comes to preparing their employees for a sale. You're concerned about confidentiality, and rightfully so. However, the longer the selling process drags on, the more likely it is that rumors will begin to circulate throughout your workforce. Consider informing your key employees first, followed by the rest of your workforce later in the process. Maintain a positive tone in your conversations and answer your employees questions as completely as you can without jeopardizing the sale.
What About Market Conditions?
Today's blankbooks manufacturers business sellers face an intimidating economic landscape. So far, government intervention and promises that the economy is slowly recovering haven't been enough to alleviate many entrepreneur's fears. However, many business sellers don't realize that a full economic rebound can have devastating consequences, particularly if sellers who have waited to list their businesses suddenly create a glut in the business-for-sale marketplace. The simple truth is that the economy shouldn't dictate whether or not now is the right time to sell a blankbooks manufacturers business. Your individual circumstances and personal goals are more influential factors in determining when it's time to put your business on the market.
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