Business Exits By Industry
Selling a Computers and Technology Law Attorneys Business
You've learned a lot during your tenure as a computers and technology law attorneys business owner. Before you walk away, you have one more challenge to overcome: A successful and profitable business sale.
Business sellers are notorious for second-guessing themselves about the right time to put their companies up for sale.
Most computers and technology law attorneys businesses are good business opportunities, a fact that is not going unnoticed by today's discerning buyers.
Average Preparation Time
Preparing a computers and technology law attorneys business sale takes time. Buyers want to see growth trends, healthy profits and other variables that increase the likelihood of long-term success. Next, the business will need to be documented in professional financial statements and manuals that facilitate the ownership transition. Since all of this takes time and effort, a computers and technology law attorneys business can rarely be ready for the marketplace in less than six months. A more likely scenario is that it will take more than a year to create the conditions necessary to receive the maximum sale price.
Dealing with Buyers
Business sellers sometimes struggle to maintain a positive attitude when dealing with buyers. The questions computers and technology law attorneys business ask during due diligence are designed to alleviate their concerns about the business and should be promptly addressed by the seller. Avoid answering buyer concerns with vague generalities. Instead, be as specific as possible, even if it means doing additional research before offering a response. If due diligence drags on too long, your broker may need to intervene.
Leveraging Industry Connections
Today's computers and technology law attorneys business buyers can be found in a variety of locations. To advertise your sale to the widest possible audience, consider a listing on BizBuySell.com or other top online business-for-sale listing sites. But industry connections can also be a valuable source of leads. When leveraging industry relationships for sales prospects, you'll need to be cognizant of the potential for competitors to use knowledge of your sale against you in the marketplace. Use good sense in restricting the flow of information within the industry and focusing your efforts toward trusted industry allies.
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