Mastering Niche Market Exit Planning
Selling a Nonprofit Organizations Attorneys Business
The decision to sell your nonprofit organizations attorneys business 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.
Business buyers are a timid lot, even more so now that they are facing an uncertain economic landscape.
Many business owners don't know that nonprofit organizations attorneys businesses are still a hot commodity, to the extent that sellers have properly prepared them for the marketplace.
When the Sale Goes Off-Course
Many nonprofit organizations attorneys business are tempted to save brokerage fees by selling their businesses on their own. Although there are exceptions, solo sales typically take longer and are less productive than brokered sales. As a rule, no business should sit on the market for more than six months without attracting the interest of at least a handful of qualified buyers. Lack of buyer enthusiasm or persistence indicates that something is wrong. Hire a broker and conduct a professional appraisal ASAP.
Negotiation Teams
Business sellers are sometimes surprised to find themselves in the position of negotiator-in-chief. When you sell your nonprofit organizations attorneys business, your business brokers may or may not be willing to conduct negotiations for you. Negotiation is a chess game, best played with the resources and backend support of a negotiation team. A negotiation team comprised of trusted advisors and senior business leaders is essential in helping you devise a winning negotiation strategy. More importantly, a negotiation team can serve as a sounding board -- an objective presence that prohibits your personal emotions from clouding your judgment or sabotaging your efforts to negotiate a successful deal.
Setting the Stage
Effective nonprofit organizations attorneys business preparation focuses on communicating value to prospective buyers. Professional business brokers understand buyers and know how to properly communicate a nonprofit organizations attorneys business to the marketplace. Specifically, brokers can advise you about the preparation of financial statements and other documents buyers expect to see in a premium nonprofit organizations attorneys business opportunity.
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