Tips to Improve Exit Planning
Selling a Job Listing Service
The decision to sell your job listing service isn't something that should be taken lightly, especially these days. If a business exit is on the horizon, you'll want to check out our suggestions for staying ahead of the market.
You won't find any magic formulas for selling a job listing service, especially while the market is struggling to overcome the perceptions created by a down economy.
The economy hasn't squashed the market for job listing services. Like always, unprofitable and poorly positioned businesses struggle to find buyers while sellers who have invested time and effort to prepare their sale are being rewarded in the marketplace.
Sale Documents
In a job listing service sale, the Letter of Intent contains the vital elements of the deal between the buyer and the seller . If you are seeking buyer concessions, the time to address them is before the Letter of Intent is drafted. For sellers, that makes a close review of the Letter of Intent more than a formality - it's a critical juncture on the path to closing.
Dealing with Your Emotions
There is no easy way to say goodbye to your business. Although you might think you're ready to exit your business, selling and separating from a job listing service scan stir up a range of emotions. It's important to allow yourself time to process your emotions during your exit. At the same time, it's helpful to consult with people who can help limit the influence of your emotions on negotiations and other aspects of the sale process.
Dealing with Tire Kickers
If you haven't sold a business before, prepare to be overwhelmed by tire kickers -- seemingly interested buyers who lack the capacity, ability or desire to actually purchase your job listing service. Even though tire kickers are a fact of life in any sale scenario, they sap valuable time and energy that could be spent identifying more serious prospects. Your business broker can offer insights about how to quickly spot tire kickers. Never provide detailed information about your job listing service until the prospect has been qualified as a serious buyer.
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