Tips to Improve Exit Planning
Selling a Jewel Setters Business
Despite the pessimistic mood of many sellers, your jewel setters business can be a high value acquisition target for ambitious entrepreneurs -- even in today's tough economy.
You won't find any magic formulas for selling a jewel setters business, especially while the market is struggling to overcome the perceptions created by a down economy.
Despite the overall mood of the marketplace, jewel setters businesses are still an attractive investment, especially when sellers have invested time and energy in preparing their companies for a sale.
Are You the Right Person to Sell Your Business?
As the owner, you are both the best and worst person to sell your jewel setters 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 jewel setters 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. So in many cases, the introduction of third-party opinions regarding value and negotiation parameters is a fundamental requirement for a successful jewel setters business sale.
Average Timeframes
Hoping for a quick jewel setters business sale? You may be disappointed. The amount of time your business will be on the market depends on how aggressively it is priced and marketed. To adequately prepare your business listing, plan on spending six months to a year prior to listing. Even though it's conceivable that an attractive opportunity could sell in weeks, an immediate flood of offers could indicate that the business is underpriced.
Why Confidentiality Matters
In the business-for-sale universe, publicity translates into risk. A low-key selling strategy is a low risk activity because you can control who does (and doesn't) know that your business is on the market. But if word leaks out to the wrong people, your competitors can use that information to steal business and damage your credibility. Maintaining confidentiality isn't easy, but without it you won't get top dollar for your business. In a worse case scenario, a profitable jewel setters business can be reduced to one that is struggling to survive. Brokers and consultants can mitigate the risk by implementing confidential sale techniques.
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