Niche Market Exit Planning Tips
Selling a Business Development Business
You've invested time, effort, and creativity into building your business development business. But the hard work isn't done yet. Before you can make a graceful exit, you will have to invest yourself in your business sale.
We're seeing a high volume of shadow inventory in the business-for-sale market.
Yet what many sellers don't appreciate is that a down economy can present the perfect opportunity to sell a business development business.
Broker vs. No Broker
The decision of whether or not to hire a business broker should never be taken lightly. Business brokers typically charge a 10% "success fee" when they sell a business, but they also handle many of the hassles that are associated with selling a business development business. You can also expect to receive a higher sales price for your business in a broker-assisted deal.
Sale Preparations for Your Business Development Business
First-time business sellers sometimes don't realize that the success or failure of their sale is determined before it hits the market. Profitable business development business sales begin with a comprehensive strategy that incorporates planning, preparation and market positioning. Branding, market positioning, and revenue growth take time, but they directly influence the price your business development business will command in the marketplace. But your efforts to improve your company's position and profitability will only be effective if you invest similar effort into the preparation of accurate financial statements for buyers.
Preparing Your Employees
As a business owner, you want to keep you employees informed about your plans; as a seller it's in your best interest to keep your employees in the dark for as long as possible. You're concerned about confidentiality, and rightfully so. But sooner or later, employees will begin to suspect that something is up, especially when you start parading prospective buyers through the business. So at some point you will have to resign yourself to the idea of telling some or all of your employees that you have listed the business development business on the market. Maintain a positive tone in your conversations and answer your employees questions as completely as you can without jeopardizing the sale.
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